The Bush administration on Saturday formally proposed a vast bailout of financial institutions in the United States, requesting unfettered authority for the Treasury Department to buy up to $700 billion in distressed mortgage-related assets from the private firms. The proposal, not quite three pages long, was stunning for its stark simplicity. It would raise the national debt ceiling to $11.3 trillion. And it would place no restrictions on the administration other than requiring semiannual reports to Congress, granting the Treasury secretary unprecedented power to buy and resell mortgage debt.
My cap is doffed, as back in July I gave such good wishes to Bush as THIS, and back in April said THIS
I secretly hope he knows this and tries to get away with what he can before January, just to see how far he can push it, just for kicks.
"What? We're slaves again? What the...ah well. Dubya being Dubya!"
God bless you guys. Go get 'em!!
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