Professor Bainbridge: Bailout but no acorns for the pigs feeding at the federal trough

Posted by Kendall Harmon

The more I understand about the current financial situation, the more I’m persuaded that some form of government bailout of the financial sector really is necessary. This is not to say that I love the Bernanke-Paulson plan. If time permitted and private financing were avilable, I’d very much prefer a plan that looked more like the Chrysler bailout, in which the government acted as a guarantor rather than a principal.

What’s not acceptable, however, are the barnacles already attaching themselves to the bailout.

Read it all.

Filed under: * Economics, PoliticsEconomyThe September 2008 Proposed Henry Paulson 700 Billion Bailout PackagePolitics in General

Posted September 28, 2008 at 5:16 pm [Printer Friendly] [Print w/ comments]

1. Jeffersonian wrote:

I’m relieved the ACORN-funding nonsense has been yanked..what an insult that was.  I’m also glad to see the money is being passed out in a more controlled fashion than just $700b hog slop.

That said, I think it probably could have been half this size and done far more.

September 28, 5:54 pm | [comment link]
2. APB wrote:

Indeed, the timing could not have been worse.  Were this not an election year, and in the last 6 weeks at that, more time and less posturing would have resulted in a far less destructive bill.  And of course there is the election itself which may well be skewed.

September 28, 7:53 pm | [comment link]
3. Grandmother wrote:

#1, where did you see that the “Acorn-funding nonsense” has been yanked, I read the article and saw “Acorn” mentioned as a trough piggy, but nil about taking that out.

I wrote our Junior Senator, Jim DeMint, and told him to fight to get rid of it, haven’t heard anything yet. Also told him I would gladly join a class-action lawsuit to the Supreme Court to find that sort of funding unconstitutional, if in fact any of it is.

Thanks for any info Jeffersonian,

Grandmother in SC

September 28, 9:00 pm | [comment link]
Registered members must log in to comment.

Next entry (above): Breakdown Of the Final Bailout Bill

Previous entry (below): Comparison of original Paulson bailout to compromise proposal

Return to blog homepage

Return to Mobile view (headlines)