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The Dodd Bill

By Jack M. Balkin

Here is Senator Dodd's proposed bill to deal with the fiscal crisis (hat tip Politico via Paul Krugman). Note the focus on the government's ability to purchase equity shares rather than merely debt, the creation of a insurance program for money market funds and various sunset provisions.

Notice also the creation of an oversight board, the requirement of findings of fact and regular audits.

It's not perfect, but it's a start. And it's far more responsible than Hank Paulson's one pager, the shorter version of which is "Trust me, I'm really smart and I work for George W. Bush."

Full post as published by Balkinization on September 22, 2008 (boomark / email).