Amy Klobuchar casino analogy

http://klobuchar.senate.gov/newsreleases_detail.cfm?id=303566&



I disagree with that analogy.

Bush officials don't want to shut down the casino. They want the gamblers to have someone else's money to keep playing.

They aren't trying to ban the sale of mortgage-related securities, for example.

Please write Klobuchar and ask her to vote No on the bailout bill.

Regarding this article on your website:
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http://klobuchar.senate.gov/newsreleases_detail.cfm?id=303566&

“The Administration has allowed Wall Street to operate like a casino and unfortunately Chairman Bernanke and Secretary Paulson have been called in as the house managers in the eleventh hour to shut it down,” said Klobuchar. “As we look at restructuring the proposal to include needed long-term regulations we also need to minimize risks to the taxpayer.”
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We need more regulation, but the bailout bill doesn't provide that.

The bailout bill encourages risky behavior by paying firms for their bad investments.

Firms which get billions in public money will make more risky investments with that money.

The Chris Dodd bill does not provide a deterrent with a real cap on executive pay of participating corporations. Instead, it lets Henry Paulson, who made $37 million in 2005, decide if pay is excessive.

This whole bill is a bad idea.

But at very least, the executive compensation of participating corporations should have a real cap, such as not greater than the president of the United States makes.