I'm going to say it publicly, I am NOT in favor of the government handing the former Chairman & CEO of Goldman Sachs (Henry Paulson--did you know his net worth is some $700 million??) a check for $700 billion to do with it whatever he wants, with no legal recourse or accountability. Especially when Goldman Sachs (among other companies) stands to reap huge rewards from this.
There has to be another way. McCain is attempting to scare the American people by saying there will be no money for banks to lend, homeowners will no longer be able to get loans.
Well, that may be true, for a time anyway but I believe we will survive. This is capitalism, it has its good points and its bad points. We have to let the market dive and clean itself up.
Section Eight of Paulson's bailout plan states:
“Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.”