The economist on Rachel's show just now was quite persuasive.

[Sparkly]

People like her have a great deal of credibility and understanding. I don't understand it all myself, and I don't believe Chimpy on anything, but I can believe someone like this.

Anyone else see her?

[GreenPartyVoter]

1. Is she for or against the bailout and why?

[Sparkly]

3. For something, yes

She said the final bill had all the requirements Obama had articulated; said it's important to the overall economy; said this is indeed a result of GOP deregulation and that needs to be made clear.

[Barack_America]

10. I don't believe it had the bankruptcy protection.

Although now I can't remember if he said that must be in the bill or could be negotiated later.

I'm actually a little unclear what protection that bill does have for mortgage holders.

Should I rewatch the interview? Did she elaborate on this?

[Sparkly]

12. She didn't elaborate on his specific recommendations, no

It was just a cut, dried, simple explanation from a credible person.

[SharonAnn]

2. Sure, Laura Tyson. Was in the Clinton administration, when we had a surplus.

[liberalpragmatist]

4. Yup, Laura Tyson -- a frontrunner for Treasury Secretary in an Obama Admin.

She's pretty good, although I suppose a lot of DU'ers may find her too Neolib.

[stray cat]

5. The problem is an inability for business to do business - ie job loss, inflation

I don't remember the term she used but she communicated the situation better than anyone I've seen. Really excellent!

[Sparkly]

7. I thought so, too.

Rachel made a good point about communication being so important in this.

Edit -- Was "credit contraction" the term she used?

[stray cat]

9. It was credit contraction - thanks!

[Shanti Mama]

15. Job loss. Work loss for my company. We're going under.

[Barack_America]

6. I did, but I wasn't entirely listening...

I was nervously checking my credit card accounts (of which I diligently maintain) to make sure they hadn't randomly taken my credit lines away from me. Considering I don't own a home, my credit score is almost entirely dependent on those cards.

This credit crisis sucks. :(

[lligrd]

8. Yep, At Least She Had Some Explanations

I'm still not sold but did appreciate her taking the time to explain things.

[tblue]

11. I'm dying to watch Rachel's show. Have to wait till hubby turns off football.

Dratnabbit! x(

[tpsbmam]

13. This is my problem.....

I've REALLY been trying to listen to both sides. I've tried to keep an open mind and keep party affiliation out of this. I've heard other economists I trust say what Laura Tyson said. I know we need to do something and we need to do it reasonably fast. I just don't know how I feel about the bailout as it was designed (the revised version) -- that's where I get hung up. I know i want more help for homeowners....Main Street, to quote the current meme. I know I don't want Paulson handed a blank check. I know certain things that I'd like to see happen based on the intelligent plans offered by some progressive economists. But I also know that Congress better come up with a compromise bill post haste, IMO.

[Sparkly]

14. I hear ya

As I understand it, Democrats wanted a bipartisan bill -- largely, probably, because it's a politically unpopular vote...

Anyway, since Republicans backed out even after all those days of intense negotiations and deliberations, the Democrats might as well pass something on party lines. Just get all the Democrats on board and pass something with plenty of provisions and PENALTIES for corporate misbehaviors. (Also, how about at least a just-in-case trigger for a huge tax on the wealthiest 1% if all else fails?)