(DOWNLOAD) "An Analysis of the Financial Services Bailout Vote." by The Cato Journal * Book PDF Kindle ePub Free
eBook details
- Title: An Analysis of the Financial Services Bailout Vote.
- Author : The Cato Journal
- Release Date : January 01, 2011
- Genre: Politics & Current Events,Books,
- Pages : * pages
- Size : 235 KB
Description
Washington's remedy to the financial problems that began in 2008 was the Troubled Asset Relief Program (TARP)--the so-called bailout of the banking system. Whatever its merits, it was, for the most part, unpopular with the American public. Lawmakers, fearful that the economy might actually collapse without some action, were likewise fearful that action--in the form of a payout to the Wall Street financiers--would prove to be harmful to them at the polls. Thus, politicians sought to assure the public that their vote on the measure would reflect Main Street virtues, not Wall Street greed. Members of Congress, addressing the public's misgivings about the bailout, asserted that they were wrestling with difficult issues such as fairness and equity, banking regulation, executive pay, job losses, moral hazard, 401(k) values, and the proper role of the state. Furthermore, they argued, these complex issues were difficult for the public to understand, and legislators, vigilant in carrying out their duty, were weighing the pros and the cons in order to cast a vote that was in the best interest of the nation.
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