Quote:
Originally Posted by Professor S
You're missing my point. Conditions like the ones the Federal government demanded of states should never have happened to begin with. Regardless of whether or not the state agreed to the terms, the very act that there were terms on such a detailed level is a breach of trust, IMO.
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That's true, I think that that part of it is what sucks. But that's where things would have to be changed in the constitution to clarity what can and can not be agreed to on the terms of a bail out or loan. Not only from our own country too, from OTHER countries too.
The problem is, in learning from past mistakes... the current administration had no choice BUT to include more regulations on their bail outs. Because the fact is, if they just give states or companies or anybody money without any rules or regulations attached to it, the use of the funds will be abused.
So what they did, is use an unfortunate fact from history to help mold how they handle money hand outs. Its not their fault that people took government money and ran with it before. So now they have to be more anal about how money is given out, but they are NOT EVEN CLOSE to abusing this power as I see it. Deciding how 1% of the money they loaned out wen they can decide 100% of it if they wanted to, is showing GREAT constraint and allowing the state to keep a lot of power.
This is where you have to trust that two things happen. One is that the state government handles the majority (98%?) of the money that they were given correctly. Because if they don't its going to cause the fed to start showing even more oversight. And the other thing we have to trust is that the federal government doesn't unnessicarily step out of bounds and abuse this power. We can only hope that they continue to be very lose about their oversight on state financial policy as they are NOW. (I don't care what you say, 1% is not even worth this thread)
This is why we will have to continue to vote into office people who are trustworthy, and not extremely greedy and power hungry. And people who are looking to the better benifit of everybody and not just their rich buddies who funded their campaign.