I previously wrote a long, technical post on problems with the 110-page bailout bill, analyzing it as if a client had brought me a contract to review. When the Senate passed the 451-page amended version, I drafted another critique, but did not post til now out of respect for giving space to other voices; also the sands seemed in perpetual shift, with the "crisis" being given a new label daily: mortgage crisis, credit crisis, liquidity crisis, stock-value crisis...Some fact-checking was really necessary. Also, my initial draft was just way too friggin' long!
Having slept on it, still being convinced that the White House shredding operation prior to new occupancy may include a shredding of the economy, and having made attempts to pare down, this (below the fold) is as good a place as any to post the floor speech I would have liked to hear, rather than the many statements in "reluctant support" of the bailout bill:
The Emergency Economic Stabilization Bill of 2008 failed today in the House, 205-228-1. 59% of Democrats voted yes, but the bill was disfavored by Republicans by a 2:1 margin. Obviously, the split was not purely partisan.
The Illinois delegation split 9-9-1.
Yes: Gutierrez (D-4), Emanuel (D-5), Davis (D-7), Bean (D-8), Schakowsky (D-9), Kirk (R-10), Foster (D-14), Hare (D-17), LaHood (R-18)
No: Rush (D-1), Jackson (D-2), Lipinski (D-3), Roskam (R-6), Costello (D-12), Biggert (R-13), Johnson (R-15), Mazullo (R-16), Shimkus (R-19)
