I was just reading an article about Alternative solutions to the currently discussed $700 rescue bill when I checked the news to find the House has passed it. http://biz.yahoo.com/ap/081003/financial_meltdown.html
As I was reading I started to be more convinced that the bill isn't a fair solution and may have many implementation problems. I think Nouriel Roubini's quote summs up nicely, the feelings of so many people who opposed this bill:
It is pathetic that Congress did not consult any of the many professional economists that have presented – many on the Monitor Finance blog forum – alternative plans that were more fair and efficient. This is again a case of privatising the gains and socialising the losses; a bail-out and socialism for the rich, the well-connected and Wall Street. And it is a scandal that even Congressional Democrats have fallen for this treasury scam that does little to help millions of distressed, debt-saddled home-owners."
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