Oct 2, 2008

Former Treasury Secretary Paul O'Neil on bailout bill

Doesn't this seem like lunacy to you? If they pass this thing, it's awful what the consequences are going to be in terms of an ongoing federal relationship that doesn't need to exist with the institutions. Are we going to insist on having a federal representative on boards of directors to protect our investment? We have no capacity in the federal government and it's not possible to create a capacity to manage a $700 billion property portfolio, It's crazy. It's like we've lost our moorings.

~ Paul O'Neil, former Treasury Secretary

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