Categories
economics

Gratified and disappointed

The Senate wasn’t able to come together and pass the auto bailout package. For that, I’m happy. We’ll see if Bush caves and appropriates money, he better not since the legislative body didn’t…

I was a little disappointed that none of the objections to the bill (that I could see) were on general principle. Instead, everyone disagreed on how budgets should be cut at the companies. Some said union contracts need to come down now, some were saying executive compensation needed to come down, there were talks about how much they should guarantee their bonds, etc. Is there anyone out there that believes that the congress and the senate would make good micro managers of any business? All of those things might be needed, but the congress is that last body you want making those decisions. It looks like all of those things will happen in bankruptcy, if we’re lucky…

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