I feel like Capt. Renault in Casablanca… “I’m shocked, shocked to find that gambling is going on in here! ” only in this instance it’s not gambling but rather self-dealing in the bailout package working through Congress. This is exactly why there should be extensive debate – open and televised – on this bill.
I have read Dodd’s proposed statute and in some respects, it is far worse than has been reported. Senator Dodd has placed a loophole in the bill that is explicitly designed to siphon off tens or hundreds of billions of dollars to the Housing Trust Fund and the Capital Magnet Fund even if there are no net profits in the $700 billion venture.
[From The Volokh Conspiracy - -]
Found the clip:
More on this topic
(What's this?)
Myths About Investing with Options
(Invest2Success, 5/1/12)
2 Gambling Stocks You Can’t Afford to Ignore
(Jutia Group, 1/20/12)
Chuwit exposes gambling dens in Bangkok
(The Analytic, 1/25/12)
Chuwit reveals a new gambling den
(The Analytic, 1/30/12)