by btchakir, Thu Nov 13, 2008 at 05:27:17 AM EST
I learned three things listening to Secretary Paulson on the Bailout program yesterday:
1. Paulson is a worse public speaker than Alan Greenspan (something I didn't think possible), leaving a more confused image of the Bailout Program behind him.
2. Homeowners will now not benefit from any kind of mortgage recovery from the Bailout, as it is now all going to keep banks afloat.
3. Since thee has, so far, been no oversight by Congress over the program, Paulson can do anything he wants without accountability.
In other words, we are screwed.