Meaningless Sweeteners In Bailout Bill
I was going to write about how bizarre the various “sweeteners” are in the Senate bailout bill, then I saw Professor Adam Levitin of Georgetown University already did a great job at that.
In short, the Senate version is the same as the failed House version, but with the addition of (1) the irrelevant FDIC provision, and (2) other unrelated legislation. And the House version was just a 110-page expansion of the Paulson’s original two-and-a-half page proposal that had lots of extra window-dressing, but little in the way of new substantive provisions that are actually mandatory, enforceable, and monitorable. This means that the Senate version of the bailout bill has the same flaws as the original Paulson bill. (Gotta hand it to Hank–he’s concise.)
Senate Bailout Bill: Just a 451-Page Version of Paulson’s Two-and-a-Half Pages
Add a handful of unrelated, irrelevant or toothless stuff and voilà, a better bill!
Software picked, likely related posts:
- My Senators Also Voted for the Bailout Bill
- What Did Your Representative Vote On the Bailout Bill?
- $700 Billion Benchmark
Comments
2 Comments on Meaningless Sweeteners In Bailout Bill
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RobertSeattle on October 2, 2008
The child arrow tax entry was is pretty peculiar. Saw it mentioned here:
http://j-walkblog.com/index.php?/weblog/posts/bailout_bill_2/
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TFB on October 2, 2008
Robert – Thanks for the gem on wooden arrows of 5⁄16 of an inch or less in diameter. I wonder what’s wrong with plastic arrows.
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