Will The Paulson Plan Work Or Potentially Make Things Worse?
Most of the people who oppose the bailout do so for ideological reasons. Conservative Republicans fear the advance of socialism in the form of government intervention. They picture themselves as saving the Republic from collectivist marauders out to destroy the free market. And that includes Henry Paulson the former head of Goldman Sachs who came to government from Wall Street and still embodies its values.
Democrats are divided too. Some say the voting for the bill while holding their noses. Others say they have to “do something” or else, and have no alternative plan. Still others see it as rewarding the people who created the crisis.
What the media often misses are the people who argue that the measure is unlikely to restore confidence or get credit flowing again. These people are actually pragmatists and work in the financial industry. In large part because politics is polarized along partisan lines, their non-partisan assessments are not taken seriously.
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