mightypeon
Active Member
I was a bit shocked to read that the new bill will give Mr. Paulson the right to basically "buy as much as he wants with conditions he sets" without any oversight or appeal.
In light of this, he could buy f.e. general motors for 1 Dollar.
In Germany, we had some very bad experiences with completely intransparent buying at conditions controlled by the buyer. After the reunification, something similiar (basically an agency that bought East German industries for 1 D-Mark and sold them to investors) appeared and led to the destruction of East Germanys industrial potential.
Apart from the effectivity issues, this bill gives a non elected person the right to disown other persons at will. Apart from beeing more socialist than China. (Which cannot buy Yahoos Chinese assets for 1 Dollar), this does not seem to be in line with American traditions.
In light of this, he could buy f.e. general motors for 1 Dollar.
In Germany, we had some very bad experiences with completely intransparent buying at conditions controlled by the buyer. After the reunification, something similiar (basically an agency that bought East German industries for 1 D-Mark and sold them to investors) appeared and led to the destruction of East Germanys industrial potential.
Apart from the effectivity issues, this bill gives a non elected person the right to disown other persons at will. Apart from beeing more socialist than China. (Which cannot buy Yahoos Chinese assets for 1 Dollar), this does not seem to be in line with American traditions.
