« August 24, 2008 - August 30, 2008 | Home

Week of September 21, 2008 - September 27, 2008

Now Just Hold On, Hank


Just a few quick, disjointed thoughts on the bailout, a plan that I, like others, view as fundamentally flawed.

First, the chutzpah of Paulson and the administration is astounding. They're saying to Congress, "you'd better do this quick, without conditions, or else!"

Hold on a second. The Treasury and the firms they are representing do not, I repeat, do not, have the bargaining clout here. We--the taxpayers and their reps--do. They're coming to us saying, "we've screwed up and need you to pick up the pieces to the tune of $700 billion." And they've got the brass ones to try to muscle us around about it?!? If Pelosi and company can't get the spine to ignore this muscle play and craft a better plan, then they're not doing their jobs.

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« August 24, 2008 - August 30, 2008 | Home

Jared Bernstein

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