9/28/2008

House GOP Gets Half A Loaf

We're really in a no win situation with this bailout bill, but the hope for those of us that still value capitalism and liberty was that the House GOP could at least soften the blow. Well, here's what they were able to do (courtesy K-Lo):

1. No ACORN money: All money goes to debt reduction

2. No blank check: Treasury is required to develop an insurance program

3. No union power grab: Dodd-Frank permitted unions to force themselves into the board room. This proposed compromise eliminates that.

4. No "cram down" bankruptcy provision (aka, trial bar giveaway)

5. No tax hikes: The proposed compromise simply requires a proposal to Congress to recoup any potential losses.

Let's hope it's enough. My advice to Boehner and the boys (and girls) is to get this done, go home and campaign hard on the issue. Never make a speech without mentioning the names Barney Frank and Chris Dodd.

UPDATE: Michelle Malkin says not good enough.