Whoa! The supposedly bipartisan effort to reach a deal on the bailout bill is unraveling like a bad soap opera. Treasury Secretary down on one knee begging House Speaker Nancy Pelosi? As many would say on the Internet: Pics or it didn’t happen! McCain screwing up the negotiations? I don’t think he’s to blame — many House Republicans aren’t pleased with the bill because their constituents tell them so!
Then there’s the tie to ACORN. The Democrats wants 20% of all profits from the bailout to stay in the Housing Trust Fund. They’ve used that fund to support ACORN and the National Council of La Raza. Being a hard-working, tax-paying, middle-income household, I think all the profits should be returned to the taxpayers. Isn’t that only fair?
Of course, Paul Krugman of the NYT just had to bring up the fact that Henry Paulson belongs to the “administration that misled America to war.” Get over it, already! Where are the grown-ups indeed, Mr. Krugman? I do agree that the bill should not make Paulson the Finance Czar and that there ought to be the usual checks and balances built into place.
There is no doubt that a rescue plan has to be executed. But the majority of Americans want fairness in the bailout. People nowadays are not walking around with a fat wallet in light of the high gas prices and inflation. We don’t like to seeing our neighbors lose their homes or historic Wall Street firms collapse, but all we ask for is some fairness because we followed the financial rules and planned accordingly, yet we seem to be the ones paying for others’ mistakes.
