With news that President Bush is hurrying the supposed “bailout” plan to save companies of a faltering U.S. economy, it is evidently showing why politicians do not know the proper way to do business. For one, when making a business decision, it is not as simple as ordering a missile to be launched. It takes due process and while congress is there to ratify it, they are likewise weighing out the options of the impact of this bill, which is sure to be drawing howls and protests from people today.
If you were in their shoes, where does politics have a hand in business? All politicians are after these days are saving the economy. If only it were that simple, a huge amount of money is involved in all of this. Imagine $700 billion for bailouts? Now that is a lot. It may help for sure but will it be professional and proper?
“We need a solution on this financial crisis more than we need a foreign policy debate,” said Graham, R-South Carolina. “The next seven days could determine the financial well-being of this country. We can postpone the debate for a week.”
And Rep. Roy Blunt, the Republicans’ House whip, said McCain’s decision “is a testament to the fact that [he] is a guy who would rather be part of the solution than run away from the fight.”
The bailout plan has met with a cool reception in two days of hearings on Capitol Hill, where both Democrats and Republicans have expressed skepticism about the proposal drafted by Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson.
McCain said he believes that Congress could forge a consensus on legislation “before the markets open on Monday.”