A few more thoughts on the upcoming legislation:
1) Sunset clauses are prudent for hurriedly drafted legislation for special circumstances. First, it forces legislators to consider if they are doing the right thing Second, it forces legislation to come to an end, and therefore if you feel the measures are desirable - after the dust has settled, and people are calmer, and markets stabilize - then come back and debate the matter again.
2) Sunset clauses are especially important when there is "broadening of powers"......broadening of powers may now be necessary but make sure there are safeguards to prevent abuse of power. We don't need anymore government induced shocks, or poorly planned bailouts.
Saturday, September 27, 2008
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