HolyCoast: The Growing Bailout Bill
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Saturday, September 27, 2008

The Growing Bailout Bill

This bit of news should be a concern to everyone:
A week ago, it totaled just three pages — the White House's request for $700 billion to rescue tottering financial institutions by buying their devalued mortgage-related assets.

By Monday, after an intense weekend of negotiations, the draft of the bailout legislation before Congress had swelled to 42 pages.

By Friday, after almost a week of marathon talks between Treasury Secretary Henry Paulson and key lawmakers in both parties, the working version was up to 102 pages.

It likely will grow even longer as negotiators continue to tweak the proposal this weekend, adding and subtracting key elements.

So, what's going in to all those extra pages? More money for ACORN? Other pet projects that have nothing to do with the problem at hand?

Somebody better take a long hard look at this bill before it gets signed by the president.

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