"This is scare tactics to try to do something that’s in the private but not the public interest. It's terrible." -- Allan Meltzer, Carnegie Mellon School of Business
"It's a straight subsidy to financial institutions. You're essentially giving them money.
-- Martin Baily, former Clinton Administration Council of Economic Advisers
"There's a tendency for people to think these are stocks and bonds and you know what the price is. The problem is people are operating in a world in which nobody knows what the hell is going on. There’s some naïve assumptions about how this would function."
-- Bruce Bartlett, former Reagan Administration economist
"This administration is asking for a $700 billion blank check to be put in the hands of Henry Paulson, a guy who totally missed this, and has been wrong about almost everything." -- Dean Baker Center for Economic and Policy Research
"If Wall Street gets away with this, it will represent an historic swindle of the American public -- all sugar for the villains, lasting pain and damage for the victims."
--William Greider, The Nation
"I am concerned that Treasury's proposal is neither workable nor comprehensive, despite its enormous price tag. In my judgment, it would be foolish to waste massive sums of taxpayer funds testing an idea that has been hastily crafted." -- Richard Shelby (R-Ala.)
"It sounds like Paulson is asking to be a financial dictator, for a limited period of time." --Historian John Steele Gordon
"The plan is stupid...Voters will break against anyone who votes for it. I thought if [Russian Prime Minister Vladimir] Putin had written that, I’d understand it." -- Former House Speaker Newt Gingrich
"This massive bailout is not a solution. It is financial socialism and it's un-American."-- Sen. Jim Bunning, R-Ky
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Ten Reasons to Oppose the Wall Street Bailout | ||||||||||||||||||||||||||||||||||||||||||||||
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