Random Thoughts

Last night the $700 Billion dollar 'Bailout' was approved.  Two days ago I starting looking to see if I could download it and see the language in the bill.  After a very extensive search, I could not find it to download.  I did find out that the bill swelled to 451 pages.  I would be interested to hear how many Senators actually read the entire bill.  I will bet you $700 billion that not one did.

So now Henry Paulson has control of $700 Billion to help struggling companies.  Interesting that Paulson is the former CEO of Goldman Sachs.  One of the first to get help with the bailout money is....... Goldman Sachs. 

Can the bankers that caused this mess fix it now????

An excerpt from Mark Cubans blog...   

 The first problem is that 2 of the seats, the Secretary of Treasury and the head of the SEC will probably change in the next 6 months. So we have no idea where that will go beyond them probably being Democrats. Thats not the worse of it.

The worse of it is that for Oversight of the biggest Bailout and privatization of assets in the history of this country, the appointees are not full time. They aren’t even part time. They all have other full time jobs. Important full time jobs . There is no way they can assure that the Fund is managed correctly and there is transparency and no corruption meeting 1x a month.

How in the world can you have people who only meet 1x a month overseeing the spending of 700B dollars ?

This legislation needs to be modified with a requirement that Sen Paulson is asked and agrees to stay on the job for at least 1 more year

The legislation needs to be modified so that the primary Oversight committee  is made up of full time business people who report publicly on a DAILY basis what is happening with our money and how the fund is performing.

Let me put it this way. Who in their right mind would invest money in a company where there is a darn good chance that the CEO will leave in a few months, and there is no known replacement ?