$700 billion is an awful lot of money to put in the hands of just one person. There needs to be checks and balances on how that money is used, and Obama should get out in front of the issue, even if it means preemptively relinquishing some of the power his administration would have.
Given that there will always be a bailout in situations like this, we should never again allow markets to get so deregulated that the put us in a position like we're in today. The issue isn't just protecting people from unscrupolous leanders -- it's also protecting people who follow the rules from those who don't.
If this isn't the death of right-wing economic ideology, then it should be.
The Bailout
Two thoughts occur to me:
$700 billion is an awful lot of money to put in the hands of just one person. There needs to be checks and balances on how that money is used, and Obama should get out in front of the issue, even if it means preemptively relinquishing some of the power his administration would have.
Given that there will always be a bailout in situations like this, we should never again allow markets to get so deregulated that the put us in a position like we're in today. The issue isn't just protecting people from unscrupolous leanders -- it's also protecting people who follow the rules from those who don't.
If this isn't the death of right-wing economic ideology, then it should be.