There's just no avoiding the talk about the financial meltdown these days, despite McCain's claims that the economy is fundamentally "very strong". And now this bit about a(nother) bailout? Yeeesh.
I was in a news blackout while I was diving off the Channel Islands and we were all caught off guard when we stopped at a Starbucks and saw the news on the front page. And now this mad rush to grant total, unreviewable and unquestionable power to the Secretary of the Treasury to spend $700 billion in what's potentially a total conflict of interest (i.e. the best interest of the taxpayers vs. the best interest of the companies being bailed out).
I'm no economic expert, but what I do know is that no matter what happens, we must have transparency. Everyone should know how the money is spent, and once we start selling of these assets, how much of that money was recovered.
No comments:
Post a Comment