Not only does the bailout plan proposed by Paulson and the White House essentially privatize the profits, while nationalizing the losses; but there are to be no limits on the executive pay for the afflicated companies, which means that taxpayers could be paying huge payouts for failed corporate leadership!
Side note: McCain likes to rail against corporate pay for failed CEOs, but last I checked, his gal pal Carly Fiorina got $46M when she was kicked out of HP.
BUT NOW, to make matters worse, two FOREIGN banks have succesfully lobbied to be a part of the bailout plan: UBS and Barclays. They want to offload the bad debt of their American divisions.
Guess who is vice chairman of UBS's American division, and their chief lobbyist in Washington: PHIL GRAMM! Just last night, McCain's spokespeople wouldn't rule out that he could eventually be Treasury Secretary!
HOW CAN ANYONE VOTE FOR FOUR MORE YEARS OF THIS?!?!
Note to McCain/Palin: Thanks, but no thanks!
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