Talkingpointsmemo: Bailout Burnout

[flpoljunkie]

http://talkingpointsmemo.com/news/2008/09/bailout_plan_reactions.php

Bailout Burnout

09.29.08 -- 12:01PM
By Lila Shapiro

Yesterday the house rejected Paulson's $700 billion rescue plan 228-205. Today, Congress breaks for Rosh Hashanah. Between the finger pointing (It's Nancy's fault!!!!), and the mavericking, it's hard to get a grasp on what the hell is happening. We here at TPM world headquarters profess no expertise in high-end economics so we've rounded up the reactions of various economists we trust and respect. The verdict: there has got to be a better way. Or, in Adam Levitin's words, "So what did Congressional leadership do with this bailout bill? Put lipstick on a pig. I wonder how many Congressmen who voted for the bill know just how impotent the executive compensation, oversight, and homeowner protection provisions are. There's a reasonable bailout bill that could be passed. But this wasn't it."

Various economists:

http://talkingpointsmemo.com/news/2008/09/bailout_plan_reactions.php