No No No and Nooooo!!!!!

An excerpt from a Wikipedia definition:
Bailout in economics and finance is a term used to describe a situation where a bankrupt or nearly bankrupt entity is given a fresh injection of liquidity. Often a bailout is in response to a short term cash flow crunch, where an entity with illiquid, but sufficient, assets is given funds to "tide it over" until short term problems are resolved. However, often bailouts are merely delaying the inevitable.

"Often bailouts are merely delaying the inevitable!" Did you catch that Congress?! Even wikipedia knows it's a bad deal!

And don't think I didn't catch your change in terminology Mr. Bush. Rescue instead of bail out. Nice try, but that won't fly with me. Just like saying "enhanced interrogation techniques" instead of "torture". Rescue. Rescue, my rectum! The only people being rescued here are the power brokers like Paulson and his buddies, foreign investors, and multi-millionaires including several of those in congress. Basically those who have millions invested in these failing institutions. If you want to accuse me of class warfare go right ahead because these guys declared it on us a long time ago. If it this bail out was truly going to rescue Ma and Pa Main street from financial ruin, congress would:
#1. Write in the provision that allows Judges to review mortgages on an individual basis so those who want to stay in their homes can.
#2. No CEO or Executive that had anything to do with the mismanagement of loans and or funds should have any access to this money.
#3 The amount would be substantially less than 700 billion, let's say 1.5 billion. See how that works, then if things are going well come back during the next administration and ask for more. (Remember that Bear Stearns, AIG, Fannie Mae and Freddie Mac have already been either taken over or bailed out)

If regulations do nothing more than prevent an institution from becoming "too big to fail" then they are sorely needed. The founding fathers knew that unchecked greed and wealth was a threat to a free and democratic society. So, now the damn bail out is "too big to fail". 700 billion dollars . . . Jesus H. tap dancing . . . What the hell costs 700 billion dollars?

From Forbes today: When asked how Henry Paulson and the administration came up with the 700 billion dollar figure: "It's not based on any particular data point," a Treasury spokeswoman told Forbes.com Tuesday. "We just wanted to choose a really large number."

You gotta be shittin' me! The more I learn about this thing the more it becomes apparent that it is a heist of the highest order. This makes the Lufthansa heist look like a kid shop lifting a candy bar.

Not only is it morally wrong for tax payers to have to foot the bill for poor managed companies, it is unconstitutional. The Constitution's General Welfare Clause requires that all the federal government's expenditures be for the general welfare, such as a highway, or a national park, or a military installation; something from which everyone can directly benefit.

Shareholders of Freddie, Fannie, AIG, Bear Stearns and any future bail out candidates are a small limited class of persons whose well-being hardly enhances the general welfare. The institutions that say they can not pay their bills own billions of property, office buildings, and assets like private jets, limousines, computers, flat screen high definition televisions, other investments etc etc. When a private citizens or corporations who aren't bailed out file bankruptcy, they are required to list all assets. What's good for the goose is good for the God damn wall street crooks!!!! Sorry, it just irks me that they're going to get away with this. It doesn't help matters that the very people we elected to look out for our best interests are accomplices in this crime.

The Repubs in the administration who helped construct the legislation, are not going to vote for it if there are protections for the home owners. The Repubs are smart and put the Dems in a catch 22. This is a Democratic controlled congress (by one seat) If the Dems cave and vote for this bill without the foreclosure protections, the Repubs will only need a few Repub votes to get it to pass. Giving the appearance that they are against it. Then they can blame the Dems for wasteful spending. If the Dems stick to their guns the Repubs will blame the Dems for preventing legislation that could have saved the American economy. It's really genius when you think about it. It's evil genius but, genius nonetheless. After some of the provisions are in place it will pass through the congress and the senate. Bush will sign it into "unconstitutional" law and the Dems will be saddled with the responsibility when the economy tanks. 'Cause in case you didn't know, baring some kind of miracle our economy is going to tank whether this bail out happens or not.

Why won't someone in congress stand up and call this piece of thievery what it is?! This is a rip off!!! It saddens me that neither presidential candidate is going to take that stance. Damn it!

DaG out