ANSWERS: 2
  • You are right that big influence/control follows big money. If they become majority share holders in corporations, they elect the boards and control policy. But I am not sure how this proposal is structured.
  • Sorry to say this, but the bailout will not succeed, please read the enclosed article and the link is there in case you wish to check it. $700 BILLION IS NOT ENOUGH HCM commends Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and their colleagues for their aggressive reaction to the financial crisis and offers these thoughts in an effort to contribute to the public debate that is occurring this week. We would respectfully suggest that the lobbyists and other interested parties that are trying to extract their pound of flesh from the pending legislation be barred from Capitol Hill or from any contact with members of Congress until after the legislation is passed. This is no time for politics. With those introductory remarks, these are our hopefully constructive comments on the legislation that was sent to Congress on Saturday. $700 billion is not enough. It also doesn't include the hundreds of billions of dollars that the government has already committed in earlier actions to stem the tsunami flooding the markets. The bill for American International Group (nyse: AIG - news - people ) could consume a significant amount of the new request, and the balance sheets of other financial institutions are sitting on trillions of dollars of mortgage detritus. The Bush administration's request that the Treasury's actions be immune from judicial oversight is unconstitutional. Unless Marbury v. Madison has been overruled while HCM's attention was diverted elsewhere, all actions of the executive branch in this country are subject to judicial review. This request rings with the same troubling echoes of the most abusive aspects of the Patriot Act. It is another attempt by this administration to use a crisis as an excuse to discard the U.S. Constitution. But the safeguards provided by that precious document are most important in times of crisis, a truth that the Bush administration has failed to learn even after the lessons of Guantanamo Bay and Abu Ghraib that have so severely damaged America's moral authority in the world. http://www.forbes.com/personalfinance/2008/09/22/paulson-merrill-bailout-pf-ii-in_ml_0922soapbox_inl.html?partner=whiteglove_google

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