Specter: Take Time to Analyze Bailout Plan

Miracles never cease. I agree with Republican Senator Arlen Specter on something else (he's pretty moderate, so we have actually agreed on some important issues in the past). Here, he's talking about a plan to rescue the nation’s financial institutions.

“I realize there is considerable pressure for the Congress to adjourn by the end of next week, but I think we must take the necessary time to conduct hearings, analyze the administration’s proposed legislation, and demonstrate to the American people that any response is thoughtful, thoroughly considered and appropriate,” Senator Sen. Specter wrote in a letter to the Senate leaders of both parties.

Anyone else wonder why it had to reach critical mass with a 1-day deadline before Congress received the plan? Sounds like a simple hard-ball negotiation tactic.

Please, Congress, take enough time to analyze this before giving the Treasury Department (i.e. Executive Branch), more unsupervised powers and a huge checkbook. Pretend it's your teenager asking for your debit card, the car, and no curfew. Stay calm, think hard, and make a wise decision. Above all, don't be pressured into a recipe for disaster!

Source: Democrats Begin To Set Own Bailout Terms, By DAVID M. HERSZENHORN, STEPHEN LABATON and MARK LANDLER, (emphasis supplied), published and accessed 9/21/08; Subscribe to Kimberlie Ryan's Working Wellness