05:04 pm
McCain “Stopped” the Deal
Confirmation:
I have mixed feelings here. I don’t want a bailout deal that in any way resembles the Paulson plan. But if we have to have a bailout deal, the Dodd plan, which essentially was what was killed yesterday, was a hell of a lot better than what we started with.
There’s one thing I do know (and it’s not that there are lots of ruins in Mesopotamia). The only thing as bad as, if not worse than the Paulson plan is the House Republicans’ plan to cut capital gains taxes and other such giveaways to the rich. That’s merely repackaging Paulson, not making it more equitable.
If McWeaksauce and the House Republicans come out of this looking like popular heroes because they advocated a different system of giving money away to their rich friends, I’m going to hurl.
Hat tip: Ambinder