Weakly Discourse

Another take on the reasons behind this entire fiasco, though this time slanted towards the tech sector in particular. It’s interesting to note that the number of posts and news articles around attempting to go into deep detail on explaining ‘what happened’ (and usually agreeing with each other but all requiring paragraphs and paragraphs to explain it) are telling of how stupidly complicated this whole mess is. Which is another reason for leadership to get something passed considering I’m fairly sure (and some of the finer details are fuzzy even to myself and I’ve read a number of these depictions of events) the average person on the street following this is having a massive headache and would have no idea what to do if put driver’s seat. Which is another reason why voting against this based upon your own electorate’s feelings, in this case, is worrisome: vote for it to get something done, then go back to your constituency and explain why this was needed now rather than later or not at all.

One other point brought up in the article stated:

The splurge is quite risky — and while I can appreciate the upside potential, if done right, that “if” scares me a lot. I’d be much more comfortable with it if it wasn’t being pushed through in its entirely in such a quick manner, with partisan players on both sides going on the news yelling at the other side each night. Instead, focus on a smaller initial package and spend a bit more time working out the bigger deal later, with a lot more input.

Which I’d like to note was kind of what the bailout was planned to do. The initial bit ($250b or so) was to be given right away with further money beyond a point requiring congressional approval (they had a time of two weeks to say no if they wanted). All $700b wasn’t to be given right away, though I’d imagine in reality (provided they didn’t just want the money for no reason) it would have eventually made it into the market.