Paulson is using fear to force the american people to relinquish massive new powers without even reading the legislation! This is not acceptable. If one is presupposed to advocate government intervention then why not target 700 billion dollars to the poorest 30% of the country or those most at risk of losing their homes? Why do the subsidies always go t to those at Goldman Sachs, JP MorganChase(David Rockefeller) and the rogues gallery of other billionaires who have been counting on government bailouts from the beginning? Our monetary system and the Federal Reserve are a sham.

The Federal REserve created this massive specualtion by puching real interest rates for big banks like goldman to negative! this was free money to Goldman and JP Morgan, while the average guy still had to pay 5 or 6%....now the same beneficiaries of the previous subsideies are back to get more and they want the bill to go to our children?!

Yes, I know, it's simplistic and gives over to mob rule and it's something only super nationalistic chinese citizens are supposed to really get in on, but, mr. journalists, who is benefiting the most out of this scheme?

I feel the need for a simple website, with pictures of every C-level officer from every company that is getting rid of its toxic waste taglined with their take away bonuses and total salaries and for bonus points, pictures of all of them hugging from their class reunion pictures from their $Ivy_league or $hard_life school.

while I agree with hiffy from a Political Economy perspective, I am also interested to know what would be a "Public Economics" explanation for this. It seems that a "maximin" strategy can explain the large bailout, maximizing the minimum social welfare attainable. In the past, the has been selective reaction, some kind of "fractional treatment" if any, which is consistent with a Bayesian or Minimum Regret rule. but then bailing out all the market, if nothing else means total ambiguity, it means Paulson an Bernanke don't have a simplest clue of whats going on and are taking the most conservative reaction.

This is beyond outrageous. This has been the most fiscally disastrous administration in American history by a longshot. Why in the world do Americans vote for these Republican clowns? Why is McCain so close to Obama in the polls? This should be a blowout of massive proportions, yet it's almost neck and neck. The Republican party should be banished to the desert for a few decades at this point. This is corporate welfare at its very worst!

The election is still close because intelligent people realize the Democrats are in on the rigged game almost as badly as the Republicans. Democrats were given power to end the war...now they back the Iraq war and want to invade pakistan, russia and a couple of other "humanitarian wars" as well.

Most people are now familiar enough with the disasters of marxism, socialism and the USSR to understand the government control of the economy IS NOT THE ANSWER. Yet the rigged two-party controls what issues can be discussed and thus we continue world empire and new deal socialism while the only debate allowed is on the margins of relevancy(gay weddings, rules for abortions, what type fo torture to allow and what kind of state sponsored health care we want).

this is not a democrat-republicn issue! It is an issue between those elite who pay for lobbiest and those of us who are being robbed by washington....Goldman and JP Morgan have lots of influence...whereas my 5 year has few contacts amongst the political elite....guess who is getting the bill for the bailout?

I believe that the Federal Reserve created this massive speculation by punching real interest rates for big banks. Now the same beneficiaries of the previous subsidiaries are back to get more and they want the bill to go to our children?! This is really an insult.

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