Based on the article, my man Paul Wellstone was also one of the few US senators to stand up against this foolishness.
Oh, and TNCB, Bill Moyers had Saint Reagan’s former Secretary of the Treasury on his show a while back and HE said that making mortgages available to the underprivileged was good policy. I heard it on a podcast which has long-since been deleted, but I’ll dig around for the transcript and get back to you.
I also read that article, and it explained a lot to me. At least to the point that it piqued my interest in the federal reserve and the treasury. This quote from the article had me wondering, how many senators (or anyone) really understand whats going on.
[quote] The situation with the first TARP payments grew so absurd that when the Congressional Oversight Panel, charged with monitoring the bailout money, sent a query to Paulson asking how he decided whom to give money to, Treasury responded — and this isn’t a joke — by directing the panel to a copy of the TARP application form on its website. Elizabeth Warren, the chair of the Congressional Oversight Panel, was struck nearly speechless by the response.
“Do you believe that?” she says incredulously. “That’s not what we had in mind.” [/quote]