This story suggests a marked improvement. Here’s the text of Dodd’s bill, and here is the text of the Treasury’s version, along with some analysis about problems with it (later link: h/t Kingfish) I’ve no time this afternoon to do more than post the links… I’m horrified that they are essentially talking about socializing bankers’ risks with no real regulation, no real oversight, no real provision that those who made these decisions will lose anything for mistakes. Go Chris Dodd!
NMC, we’re missing the link to Dodd’s text.
Can’t find a video yet, but here’s an advance copy of Obama’s speech in Green Bay (scroll down a bit for the full text).
(h/t TPMElectionCentral)
Politico has a link to the 44-page (big type, lotsa white space) pdf of Dodd’s draft bill.
Chris Dodd working on the bailout plan is reminiscent of Joe Kennedy advising FDR on how to design the SEC.
Observer-we Dems have our Chris Dodd and you have your____, ____, ____, ____,____, ____ fill in the blanks. I’ll take Chris, thank you.
Observer, dunno whether you’ve read it, but I like what I’ve seen of it so far a lot — monthly reports to Congress about Treasury’s “overall activity” and weekly public postings of what they’ve bought and sold, for instance. Yepper, time for some sunshine in here.
The companies have responsibilities that are too much for them to afford and survive. Wow. Let’em fail. That was the “tough love” to be offered to homeowners and others who took on too much.
I understand we can’t do that, but the hoity-toities, who thought it unnecessary to help homeowners, need a dose of their own “medicine.”
Glenn Greenwald has a theory why so many right-wing small government types who have supported unchecked, absolute executive power over the last eight years have had a sudden epiphany and now desire checks on federal government power. With an impending Obama presidency, no oversight-no power over the outcome. I contend that a large part of their about face-it’s an election year, Hello! and only 28% of Americans, who are paying great attention to this issue, support what has been proposed so far.
I just snuck in over at cujo’s place where s/he has posted some interesting stuff on McCain and Gramm on Foxes and Hen Houses
Fair warning Observer-you may want to cover your eyes: I just heard Krugman say that Dodd’s plan is much better and in more detail than Paulson’s 3 pager.