"The decisions that are made in the next six months or so are likely to set the economic course of this country for the next 50 years," says Elizabeth Warren, who chairs the COP, the Congressional Oversight Panel charged with reviewing the banking bailout. "That's what happened coming out of the Great Depression, and I think that will happen now."So begins a piece in the Huffington Post by Robert L. Borosage. The problem is that right now, we have no oversight of the bank bailout with any real teeth. And we need that, both to find out exactly who (and how they) got us into this fix and to best decide on specific safeguards to prevent it from happening again.
And if a 50-year time frame doesn't scare you, what will?
22 April 2009
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