Published by Brian Slezak on 05 Oct 2008
Well, yesterday the bill poorly, or aptly, dubbed the “bailout bill” was passed and signed into law. You can read the bill in the The Library of Congress. For me, it will be remembed as the bill that got me interested in the legislative process, perhaps for the first time. Throughout the week of Sept 28, 2008, I’ve spent numerous hours on THOMAS browsing bills and reading about what congress was trying to pass with the “bailout bill.”
The hours of research and reading were actually prompted by Scoble’s post, Economic Idiocy, in which he states:
In the past 18 hours I’ve read literally thousands of posts and have done almost nothing but hang out on FriendFeed. I’ve seen a LOT of idiocy.
I have been interested in the recent ecomomic and legislative turmoil for a while but had not researched it. Some of my co-workers started engaging me in conversation, and all I had was unknowledgable opinion on it. Upon reading Scoble’s post, I just got tired of myself and started researching reliable resources. I re-learned a lot on the legislative process itself, having first learned this back in high school when I could have cared less.
I am not going to post all my thoughts about the emergency economic stabalization act of 2008, but only to say after hours of reading, thought, and discussion amoungst friends, I find myself in favor of it … for now. I think the people that cry for justice against these leding institutions should read Devistion A, sections 111 and 302 of the bill. If you are not satisfied there, read bill H.R.7125, initially named Let Wall Street Pay for Wall Street’s Illiquid Assets Act of 2008. Then contact your state house representatvive and senator and tell them they need to support this bill.