Did you know that while they had the Bailout Bill in signing, Bush and Paulson changed one tiny line to read " No special compensation or bonuses will be given to any executives of companies from whom Treasury buys toxic assets" So I guess we know why Paulson changed his mind about buying toxic assets. Now all the financial execs can collect all their bonuses etc on our billions.
This is the real legacy of the Bush administration. He has pretty much managed to transfer all the wealth and potential wealth of our democracy to his oligarchic comrades and war mongering cronies also known as his base. The military industrial congressional complex is doing just fine while our neighbors lose their homes and jobs. And the benefits to Wall Street are unspeakable. Bush did his job perfectly and pulled the biggest heist perhaps in world history to date from the citizens of the country he promised to protect. War on Terror 0 War on Citizenry 10. The real terror is the capture of so much capital in so few hands.
16 December 2008
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I think you meant that this was White House language in the final bill, since even Bush can't change the text of a law after it's been passed. (Ted Stevens did that once, to a bill after it had already been marked up in conference committee, but that was clearly illegal).
ReplyDeleteBush's favorite trick was always "signing statements," in which he would set forth how he didn't have to enforce the law, but even he didn't try to actually change the statutory language.