Oregonrain

Oppose the Treasury's Bailout Plan

This is the best article I have seen on this. I was wondering where the language of the act was....and here it is. This is really not much more than another "blank check" for Hank Paulson (or the next person) to do what he will with. I am sure his intentions are good but the history of giving this administration a lot of lead way or "standby authority" is not a happy one.

I agree that in theory the RTC II should not do deals with other wise "healthy" financial service companies. Reasonable restrictions along the line suggested here are critical. I have one more.. in the event any company sells assets to RTC II they should contractually agree that neither that company or anyone of their behalf make can make campaign contributions to those that control or regulate RTC II,

This is a critical element. One of the issues on RTC was that it assumed assets when they were dirt...and then they were lobbied to unload the assets before they really achieved their full value for the taxpayers.

We also need a constitutional amendment to stop the unlimited campaign spending that has turned the Congress into supplicants to the bankers and finance industry among others.