Global share markets don’t look very convinced the U.S. Senate’s passage of a bailout bill will purge the financial sector of the bad debts which are killing it. Perhaps it’s because the Senate bill was such a joke. The plan, or FrankenTARP as we are now calling it includes restriction on judicial review, a suspension of the normal rules for drafting and debating legislation in front of Congress, and allows for the President and Treasury Secretary to come back as many times as they’d like for more. money.
October 3rd, 2008 | Dan Denning | 2 comments | Continued