Kind of leaves the grunt work of unbundling these packages to assess their real value up to the new owners doesn't it? You bought it - but you don't really know what's in it... Maybe they can sell them as Christmas surprises!
Now there's a man of principle: There is no bill, and he will vote against it. Bunning is a typical selfish politico. This event requires a bit of altrusim and patriotism, not what's in it for ME and MY constituents.
Wait, you are criticizing a politician for actually sticking out his neck and questioning another foolish bailout?
I am not sure that is fair. Bernanke and Paulson have proposed a plan. They explained their plan today. Basically, the plan was, we be just GREASE MONKEYS, give us 700 billion dollars to buy grease, and we will grease the parts on as needed basis. As far as any details beyond that go, you will just have to trust us.
That may be true - but something is going to get done because the whole thing is set up as Mutually Assured Destruction. "You can let us sink - but we're taking you with us!" So now, it's just the details...
Bunning was given his time to ask questions, and he made his points very well. If he had just STFU instead of going on TV ranting that he will not support the bill, which doesn't even exist at this time in any form to be voted on, he would have maintained the (potentially) positive perception he created during his questioning. What is not fair is that he was given an opportunity and he took it, to spout his what can now only be viewed as uncooperative attitude, while the hearings were still in session. Just another politico moron.
At least Bunning did not pull a Chuckie Schumer. Schumer requested an extra question which was granted him by Chwissie Dodd. Chwissie said that Chuckie was on the way and yielded to another Senator. What Chwissie did not know was that Chuckie was hogging the camera with the ever smug Erin Burnett when he could have asked another question. But when Chuckie just could not pull himself away from CNBC face time, everyone was RELIEVED when Chrwissie said the Chuckie 's important question would be submitted in writing.
Personally, I do not like Screwmer. However, IMO, his "idea" of issuing the requested funds in phases, with regular review, seems like a viable solution. Paulson/Bernanke did say they anticipate using 50B monthly, so Screwmer's suggestion of 150B for starters gets things started and carried up until the next Administration. Very reasonable, imo.
I don't think its reasonable at all. In fact, I think a "you're sh*t out of luck" response from Congress would be more appropriate and more reasonable.