I've been too kind. Here is what I question abou the Paulson Plan:
1. Why the hurry? Your plan says you'll spend the next 2 years buying toxic loans from institutions. If its going to take 2 years anyway, spend a few minutes giving me more information.
2. Such as, which loans are considered toxic?
3. What do I, as a taxpayer, get out of the deal?
4. Is there any consequence faced by the people who made foolish decisions?
5. How will you decide how much you'll give an institution for its toxic loan?
6. Who is going to do all the administrative work on this? Will you have a new department, or will the institution itself have to provide those workers? Would that mean they're picking the loans?
7. What kind of regulatory changes will be part of the deal?
I'm going to count on the Congress to find out some of these answers. After hearing Barney Frank and Richard Shelby this morning, I think they'll be able to hammer something out. The question is, will Paulson and Bush and Republicans support it? Will it get veto'd?
And, I figure that means there will be more fingerpointing. I'll try to pay attention so that I can know which side is really holding things up.
By the way - while watching Face The Nation this morning, I thought what everyone said sounded like they were going to hammer it out, so although questions might have passed through my mind, I didn't formulate them more fully because I figured Congress and Paulson were going to try to work it out.
It was after I read some stuff on Huffington Post that I got the idea that Paulson and Bush might be more sticky than I thought. Like, they might block things that involve anything more than what Paulson has presented.
So, these aren't my first impressions, but I agree with postings I've read that demand more from the plan and the Congress. I'm too trusting, I think.
No comments:
Post a Comment