House Readies For Vote On Bailout Bill

I'll have more remarks on the bailout bill. Nothing earth shattering beyond what I have already said. ie. It won't do what government is praying it will do. The President tells us in this Times article that it's a very good bill. Well, I'm not sure how anyone in the current government would know what a bad bill looked like given incarnations of both parties are the biggest group of spend-happy dunces we've ever seen. (Government is also in the OPM or other people's money business. Accordingly, their judgement often ain't much better than Wall Street.) But, this bill is substantially better than writing the Treasury a blank check with what were arguably unconstitutional authorities according to an examination on Law.com. Surprising how little respect government officials have the the Constitution at times. Even though I support government involvement in the current mess, there is a part of me that hopes the House can't muster the votes to pass the bill so we have a chance to get one with more transparency, market-based price discovery and involvement of private capital.