A crushing but meaningless blow.

20 September 2008

Say What You Mean

Sec. 3. Considerations.

In exercising the authorities granted in this Act, the Secretary shall take into consideration means for--

(1) providing stability or preventing disruption to the financial markets or banking system; and

(2) protecting the taxpayer.
(Actual text from the proposed financial bailout plan)

I would suggest that after $85B for AIG and $700B for basically whatever, protecting the taxpayer should be the first priority.

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