Schumer and Dodd are in the pocket of the Big Banks.

They will be the ones that push this through. Schumer, representing Wall Street, and Dodd, representing banking interests, will be the forces that push this mess upon the American people. Because of the outrage on Main Street, they are pretending to be on the side of the taxpayer. I would not bet on that.

who actually know something about the financial industry, even when they propose improvements in the bill.

I don't trust either of them now. I'm glad I did not vote for Dodd in the primary. I hope he proves me wrong, but I doubt it. Schumer, he will fold.

Asserting that the plan would allow Mr. Paulson to act with “absolute impunity,” Senator Dodd said, “After reading this proposal, I can only conclude that it is not only our economy that is at risk, Mr. Secretary, but our Constitution, as well.”

http://www.nytimes.com/2008/09/24/business/economy/24fannie.html?hp

I'm not watching the hearing, but this quote from Dodd sounds good to me. :shrug:

and thanks for the conciliatory reply. I've just been fed up with a lot of posts here the last few days.

It is perfectly understandable not to simply trust politicians, especially those hired by the Bush administration. On the other hand, there are enough economists, financiers, and politicians from all different persuasions to provide a pretty good basis for trusting that there is a real crisis. Sunday night a week ago could have been the beginning of chain of bank failures. So could last Thrusday when the Fed injected $180 of liquidity overseas. It could recur on any given day, and some kind of an overall solution is a good idea.

I am glad that people like Dodd in a position of influence are criticizing some provisions of the bill and attempting to improve them. If it's done right, it will cost a fraction of the $700B that's being bandied about. But I hope a bailout of some form goes through. The consequences are too great if it does not.

Throwing around accusations without proof is irresponsible. Please supply some sort of facts.

On this discussion about the bailout. It is all opinion. And that is my opinion. Wait until Friday or early next week, and let's see what happens...

Link to thread: "Go, Dodd, GO. He's tearing the Paulson Golden Parachute Giveaway a new a**hole"

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4067874

Hell, they might even apologize.