A consistent result of virtually every major Bush policy, from tax cuts to war, has been to enrich the already wealthy.

The pinnacle of Bush’s legacy may turn out to be a $700 billion bailout of the high-flying Wall Street firms that made enormous fortunes — and rewarded themselves with billions in bonuses– leveraging risky mortgage-backed assets. Now that those firms are in deep trouble, the Bush administration wants taxpayers — many of whom are facing their own financial troubles — to come to the rescue.

And, in case there’s any doubt that it’s fat-cats-first with this White House, the news today is that Bush aides are balking at moves that would require companies accepting bailouts to cap executive pay, or give taxpayers equity for their contributions.

And I concur with Senator Sanders. The middle class and the poor should not be paying a single dime of this government bailout. It is George Bush, his cronies, and the entire Sith Administration that has gotten this country in this cesspool of muck. Yes, the wealthiest Americans should help financially reshape this country back financially with their resources. And the CEOs should not get a raise in this crisis nor a balloon package. They should be pitching in [and that mean the word "work"] to restore this countries’ financial structure and consumer confidence.

More importantly, we need an oversight and accountability of the taxpayers’ money from this financial crisis.

Where’s all that money? Bailout, yeah right. After Wall Street steps all over us, discriminates against us, rips all of us off, we have to bail them out? What a shameful nation the US under GWBush! Shame on you no good idiot Bush! Keep dumping trillions of middle-class taxpayer dollars in a failed criminal war and push the middle class deeper in debt by bailing out Wall Street’s crooks!

The nightmare started by the idiot when he stole the ‘00 elections keeps getting worse and worse. The White House reeks of incomptence and failure and the idiot never got impeached nor approached nor questioned. Keep doing whatever you want idiot Bush, knock yourself out …idiot freak!

http://www.sanders.senate.gov/news/record.cfm?id=303340

Don’t support the bailout!

tom Says:

Instead of a bail-out as proposed by GDumbya, Congress should be seriously considering a plan to reset existing mortgages for owner-occupied, homesteaded properties that are in or heading toward foreclosure.

In this way, “paper” losses associated with the supposed bad credit caused by excessive ARM adjustments and other predatory mortgage practices would essentially go away. Owners would remain in their homes. Lenders would avoid the costly foreclosure/re-sale process. And lenders would still make money on the re-set mortgages (although not as much as they expected).

This approach makes sense and still leaves the government with its current flexibility to take “troubled” loans into Freddie and Fannie. Mortgage insurance is still available to lenders as it is now.

There is absolutely no reason for Congress to cave into Paulsen and GDumbya’s demands. It is a silly and unnecessary bail-out aimed only at allowing the dumping of “debt swap” paper that is totally worthless in return for cash infusions to banks and brokers who have been greedy, irresponsible gamblers.

It’s official, the two Toms agree.

Thank you for stating this more eloquently than I could.

http://www.youtube.com/watch?v=vfNa9xW2GMo

Senator Bernie Sanders (I-VT) released this video asking for help in fighting the bailing out (and rewarding) of the richest Americans on Wall Street by the already struggling middle class.

.

Let’s Play “WALLSTREET BAILOUT” The Rules Are… Rep Kapture
http://www.youtube.com/watch?v=S27yitK32ds

Secretary Paulson is not God, and should not be given god-like powers. That’s malarkey!

Take those billions (and I’d bet you’d find that there is enough money to match the 700 billion figure being floated around)and make sure that evrey single person suffering from foreclosure (do to no fault of their own of course) gets their mortage PAID IN FULL. Then, take the rest of that money, apply a retroactive tax going back to 2000 and replenish the US treasury. Start to pay down our debt. If there is anything left after that, then every single tax paying US citizen should get an equal share.

As for the business, let them fail. Screw ‘em. After all, this is a free market, right?

However, the fact that the Bush giveaway program for the wealthy is approaching its end will be a crisis and thus we are finally seeing and hearing a sense of ‘urgency’. Couple that with McCain’s continued loss of support due to lies, ineptitude, and senility, and we clearly see the fear manifesting in the ruling class

This bailout is their only chance of bilking the remaining pennies from our collective pockets.

NO bailout.

http://www.timesonline.co.uk/tol/news/world/asia/article4810644.ece

How much of this mess was caused by actual mortgage defaults and how much was caused by big investment banks trading “funny money” back and forth endlessly? And WHO are we bailing out here?

Paulson was a git to Senator Johnson. Hank can be very condescending.

Hank also said the bailout would cover credit derivatives. I finally got my answer and I’m not happy. Buying the big money boys financial gambles is a ridiculous proposition.

Unregulated credit default swaps = “coverage” for credit

Paulson doesn’t want to scrap this system, in favor of something more regulated, organized and with greater oversight. He wants to bail the junk coverage out.