The Dodd Bill

[kpete]

The Dodd Bill


Here is Senator Dodd's proposed bill http://www.politico.com/static/PPM41_ayo08b28.html
to deal with the fiscal crisis (hat tip Politico via Paul Krugman). Note the focus on the government's ability to purchase equity shares rather than merely debt, the creation of a insurance program for money market funds and various sunset provisions.

Notice also the creation of an oversight board, the requirement of findings of fact and regular audits.

It's not perfect, but it's a start. And it's far more responsible than Hank Paulson's one pager, http://www.nytimes.com/2008/09/21/business/21draftcnd.html?_r=1&oref=slogin the shorter version of which is "Trust me, I'm really smart and I work for George W. Bush."

http://balkin.blogspot.com/2008/09/dodd-bill.html
http://krugman.blogs.nytimes.com/2008/09/22/dodd/

[rosesaylavee]

1. Darn

Can't open the pdf file. Says it's damaged and can't be repaired.

[panader0]

2. Krugman on KO just now saying how Dodd's proposal was much

more thought out than the big S of Treasury.

[creeksneakers2]

3. That's an improvement

Waiting rather than acting in haste helped.

[seasat]

4. I hope our Democratic leaders make this the least they will accept.

We need to go to the Bush administration and say that this is the least that we will accept. Add something else to it like repealing Phil Gramm's bills that contributed to this mess, tighter regulations on credit cards, and further regulations on banking. They can then negotiate those out leaving at least the Dodd bill. They need to make it clear that the Dodd plan is the bare minimum that will get through congress.

[bluesmail]

5. Kucinich has a similar bill that would give taxpayers

a say (b/c they are bailing out) these morally bankrupt Bankrupt Banks and their obvious fraud on the taxpayers. He's proposing a new Ownership Society. :7 HA!

[rosesaylavee]

6. ...

...um, nevermind. I thought it was the Dodd bill - it was Paulson's initial draft.

Move along. Nothing to see here yet. :P