The Bailout Passed


Well, the Emergency Economic Stabilization act passed the House of Representatives.


Amazingly, this passed without any real plan on what to do with the money.

“Treasury Secretary Henry Paulson said he did not wait for final approval of the measure to begin preparation.” [Source]

Oh good…he knows what he’s doing?


Am I the only person who thinks this was just a tad bit myopic? How did they know how much they needed without first figuring out what they were going to spend it on?

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