Every single component of Hank Paulson’s Magic Bailout Plan has been discredited, and rightly tossed aside.
No oversight? Gone.
Sweeping powers without judicial review? Gone.
$700,000,000,000 all at once? Gone.
No equity stake in the companies being "rescued?" Gone.
No limitations on executive compensation and golden parachutes? Gone.
No taxpayer protection? Gone.
No reporting to Congress, except optionally and infrequently? Gone.
So, I ask you, Mr and Ms Taxpayer: why is this supremely-conflicted, down-on-bended-knee, grabbed-a-number-out-of-thin-air, set-for-life crazyman with his deeply unpopular and unAmerican views still in charge at our Treasury Department?
Shouldn’t Chris Dodd and Barney Frank demand his resignation before passing any bailout plan? Do we want Paulson around to advise Preznit Chimpy what to put in his signing statements to turn the eventual bill back into his three-page, unAmerican masterpiece for the oligarchy?