Full text is here of the Emergency Economic Stabilization Act. It is more than 40 pages long, and full of legalese, but it should be required reading. While I still believe we had no choice but to act, this is a sad, sad day.
If you’re not already angry, feel free to get angry. Recognize, however, that while Wall Street was the credit drug dealer/developer, far too many among us were willing buyers of the pharmaceutical called easy money. I wish I felt confident that those days are gone forever, and the U.S. has turned a corner, but I don’t. Instead I think we’re seeing a pivotal moment in the arc of U.S. history, one where it’s still possible to make changes to bring the system in line, but I see no sign anyone is thinking past Monday.
As a friend said to me the other, This is no economy for old men.
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