Why is this bailout bill bad?

[Scofield]

I know the bill is bad, but I'm not sure why.

I haven't read the bill, and the media hasn't told us what the bill says.

 

[EvilEngineer]

$150 Billion in pork

Immunity from prosecution and oversight for Paulson

Increased powers to the Federal reserve

500 Million tax free for Paulson to get out of Goldman and Sachs

700 Billion in the credit market that didn't do shit... the market dropped 100+ points after it got signed.

And more and more and more shit....

 

[NMCB3]

Socialism is always bad. Government intervention in the market is always bad.

 

[Mitt Romneys sideburns]

Lets get right to the root of this.

We have a horrible economic system of debt and credit that is spent on consumption, rather than production. We buy houses expecting them to appreciate in value so we can make money off them and use them for more credit.

The whole system if going down, as it should, in a free-market correction.

The bill, along with all other measures, is an attempt to prop this system up.

 

[Kotin]

Lets get right to the root of this.

We have a horrible economic system of debt and credit that is spent on consumption, rather than production. We buy houses expecting them to appreciate in value so we can make money off them and use them for more credit.

The whole system if going down, as it should, in a free-market correction.

The bill, along with all other measures, is an attempt to prop this system up.

that is it!


this must happen.. but either we get a new age for the Republic and a restoration of the Bill of Rights and Constitution.. or we get something else..

 

[TheEvilDetector]

Government should not be propping up private companies after they make mistakes.

This is a moral hazard and market interference amongst other things.