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09-22-2008, 01:32 PM #1
Bailout: Do as I say!...no, wait...New York Times, WASHINGTON — As President Bush urged lawmakers to act quickly on the bailout legislation, Senate Democrats on Monday put forward their version of the rescue plan, including a bold addition aimed at helping homeowners at risk of foreclosure.
President Bush urged the legislators to resist the temptation to add provisions that, he said, “would undermine the effectiveness of the plan.” But it is becoming clear that Democrats have their own ideas about what should be in the plan, who should be helped, and who should not.
Washington Post - Sen. John McCain on Monday declared himself "deeply uncomfortable" with President Bush's proposal to rescue the economy and said it must include an oversight board to ensure accountability for the $700 billion in government money.
"I am greatly concerned that the plan gives a single individual the unprecedented power to spend $1 trillion -- trillion -- dollars without any meaningful accountability," he said in prepared remarks.
"Never before in the history of our nation has so much power and money been concentrated in the hands of one person. This arrangement makes me deeply uncomfortable."
09-22-2008, 02:15 PM #2
Yeah. Those provisions would seriously undermine the effectiveness of the plan to transfer carte blanche financial control, sans oversight, to the Executive Branch.
09-22-2008, 02:22 PM #3
09-22-2008, 04:07 PM #4