Archive for the ‘Rep. Brad Sherman (D-CA)’ Category

Still Million Dollar a Month Salaries…
Still Tens of Billions to the Bank of China…
Be Skeptical of Senate Bailout Bill
All the Old Problems Remain
A Single Comprehensive Updated Article by Congressman Brad Sherman (D-CA)
October 1, 2008

Taxpayers highly unlikely to recoup any of the costs under revenue provision
added last Sunday
(page 2)
Treasury will not use the new insurance powers added to the Bill last Sunday
(page 3)
Tens of billions will go to foreign investors (page 3)
• Million-Dollar a month salaries will continue (page 4)
• Oversight Board can critique, not halt, any action (page 4)
• Few if any homeowners will get mortgage relief (page 4)
• All $700 billion can be spent by January 20, 2009 (page 5)
• Taxpayers will get little or no equity upside (page 6)
• Meaningful regulatory reform proposals will be subject to filibuster, delay, and
dilution (page 6)
• We have time to write a good bill (page 6)

Read Rep. Sherman’s full article here. (It’s a PDF so you can download and save it if you like. We did.)

Also – here’s Rep. Sherman discussing the fear tactics used to push this bill through –