vince v

The Bailout to End All Bailouts

From what I see; there are two broad issues. First, the near term finances and the unravelling of the financial system must be stopped and stopped quickly. The current proposal is a solution and may not be optimal; but the speed and size is appropriate. It should be noted that many current news reports cite the lobbyists who are trying to seek advantage for their sponsors in this process. This leads to the second broad problem of correcting how we got here, which I believe has its root cause in campaign finance reform. The regulations have been changed to allow this freewheeling, highly margined investment and the growth of institutions "too large to fail". This includes the understaffing of federal agencies to police the laws that are on the books now. All bought and paid for by campaign contributions to a group of legislators who spend more time campaigning for reelection funds than they do on making unbiased analysis of legislation. Whatever the laws are people will game them for advantage or get them changed through influence. We need to make it easier for legislators to "do the right thing". As for punishment ... aren't we all guilty?