Dodd's Alternative Proposal Is Up
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Submitted by leah on Mon, 09/22/2008 - 2:56pm
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Steven Benen has the main points up.
Krugman appears to be at least somewhat impressed.
Chris Bowers at Open Left has the link to the PDF forty page document, plus some analysis that suggests Dodd's version carries some poison pills of it's own that Bush and Paulson will have a hard to impossible time swallowing. To which I say, great, no bailout, then.
A friend tells me that Barney Frank's House version is the better of the two, but I don't have any links on what it contains.
Any of you who have the time, please feel free to summarize the document and give us your response.
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Comments
I don't like mortgage terms adjusted through bankruptcy court
Seems onesies and twosies. And it's in everyone's interests to get mortgages to the point where they can perform again. So why not do that? I still say HOLC is the better solution, since it's a systematic approach to the problem (Stirling bought in, too) -- though apparently some of the finance guys don't like it. But...
[ ] Very tepidly voting for Obama [ ] ?????. [ ] Any mullah-sucking billionaire-teabagging torture-loving pus-encrusted spawn of Cthulhu, bless his (R) heart.
I Agree, lambert
it seems like a system for when there's no system. Better than nothing, but not nearly as good as setting up an agency to handle it instead of relying on a patchwork of judges.
It seems to me that any
It seems to me that any version that is not short is bad. These guys are supposed to be out of power in a matter of months.
This shouldn't even be in the administration's hands. If it is, it ought to be smaller and short term. Paulson or whoever ought to have to report to Congress after the election and to confer with the president elect rather than taking any actions on his own or under direction from the prince mishkin.