Diary

Economic Stabilization Act of 2008

My first diary post!

The LA Times has released a draft copy of what should be voted on tomorrow. The original three page submittal has ballooned to 110 pages. It can be found here.

I am fairly confident Obama said during the debates (when discussing the bailout bill), there will be no insurance provisions. It appears that even though Obama thinks he essentially wrote the bill that there is an insurance provision. There is also a provision to allow the Secretary to purchase mortgages of foreign banks. Do we really want to be bailing out other countries?