Nod to Fascism in Dem's bailout bill

[KarmaContestant]

Originally Posted by ajmccarrell

The article itself says that Dodd wanted the government to assume private loans such as credit cards and auto loans too. Paulson called for a bailout, but not for ALL loans in the US to be under congressional perview. Again, I highlighted it in every way imaginable so that you would know what I was criticising specifically as fascist. Both Paulsen and congress have both presented alternative plans and are negotiating. It's called the legislative process. Everyone else here gets it but you. I guess if it doesn't fit on a bumper sticker, you don't understand it.

I have to correct you on this. It's the U.S. treasury that is asking for two years. It's the Treasury that amended the proposal to allow buyout of any and all 'troubled assets'. Not the Democrats. The Dems are asking for a one year limit.

You have your facts a little backwards.

Source: http://money.cnn.com/2008/09/22/news...rss_topstories

The Treasury has amended its original request to give it authority to buy up not just troubled mortgage assets, but troubled assets period.

"Removing troubled assets will begin to restore the strength of our financial system so it can again finance economic growth," according to a statement on the Treasury Web site.

Lastly, the Dodd proposal would terminate Treasury's special authority to buy up troubled assets by Dec. 31, 2009. By contrast, the Treasury's proposal calls for termination two years from the date of enactment.