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Legal Commentary
: Lessig Blogthe bailout, II (and note the new category)
By Lawrence Lessig
The United States Congress is toying with setting the wages of UAW workers.
This fact apparently surprises some (including Michael Moore). And the fact that I oppose the bailout surprises some (except those convinced I've been recaptured by my teenage (and Republican) self).
But the statistic most significant to me is as MAPLight.org nicely reports, "House members voting 'yes' on auto industry bailout received, on average, 65% more from auto industry interests than those voting 'no.'"
Take the money out of politics (and here's a specific proposal for doing that), and then come back to me to talk about the good, public regarding reasons why Congress is stepping in to "save the auto industry."
Full post as published by Lessig Blog on December 13, 2008 (boomark / email).
The Paulson Toxic Mortgage Debt Security Act: The Biggest Government Bailout of All Time
Legislative Proprosal for Treasury Authority to Purchase Mortgage-related Assets
Emergency Economic Stabilization Act of 2008
Bailout Bill HR124
Bank of America Faces Homeowner Class Action For Withholding Federal Bailout Funds
Bank of America Faces Homeowner Class Action









