I watched much of the C-SPAN coverage of the Senate debate on "financial stabilization." Senators Feingold and Sanders made the most cogent statements calling this legislation well-intentioned but deeply flawed.
And deeply flawed it is. This legislation fails to address how we will pay for it, how taxpayers will be protected, and does nothing to prevent similar abuses in the future. This legislation also fails to even mention punishing those responsible...and the executive compensation limitation provision is laughable...simply limiting corporate tax deductions on salaries over $400K.