Monday, September 22, 2008

Calling The Maine Media

We're in the middle of a historic financial meltdown. And on Friday, the Bush administration announced the outlines of a $700 billion rescue plan.

By Sunday, Rep. Allen had embraced the idea of bold action and on Monday morning he laid out a series of principles that any package must adhere to ("minimize taxpayer exposure, make sure homeowners get a lifeline, include oversight of the Treasury and limits on excessive compensation for executives").

Sen. Collins, by contrast, was musing about the origins of the crisis and asking for hearings and more "market discipline" while stopping short of endorsing tighter regulation of Wall Street.

So one of these pols is demonstrating something like leadership; the other is showing us all something else.

But here's the question: Where does Susan Collins stand on a $700 billion taxpayer funded bail out? Does she really think Wall Street deserves that kind of propping up in the absence of stricter regulation?

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