11 thoughts on “AP: Congress, Bush team agree on bailout terms

  1. At this point, there’s not enough here to really make a case for this one way or the other. I’m kind of struck by the “strong government oversight” portion though, given that we should have EXPECTED that in the FIRST PLACE. To paraphrase Chris Rock, it’s amazing that Congress is making a point of noting it will do something that it was just supposed to do…
    “I ain’t never been to jail… What you want, a cookie?”
    Man are we low-expectation-having MF’ers around here if we’re willing to say, “OK, NOW they’re serious about oversight.”

  2. As has been the case all weekend, there just aren’t enough details to be sure if this is a Good Thing or a Bad Thing /Glinda voice
    I’ll be waiting to see what they really come out with before I either celebrate or hit the bottle. Well, I may hit the bottle earlier, just ‘cuz.

  3. Can anyone find an expert in the field who believes this will work? I doubt it will, but I was 100% against what Paulson proposed, so getting anything added at all seems a bit of a Pyrrhic victory.
    The country may still go down in flames but at least it will be with oversight!

  4. “A new American Research Group poll found that just 19% of Americans approve of the way George W. Bush is handling his job as president and 76% disapprove. When it comes to Bush’s handling of the economy, 17% approve and 78% disapprove.
    Bush’s overall approval rating of 19% is tied for Bush’s lowest in ARG monthly polling since Bush took office.”
    Don’t have to give this man anything he asks for.

  5. Let’s table this until November 5th…I imagine a lot of landmines will disappear and even more attitudes will change on that date.

  6. I have a strong suspicion that this is a trojan horse maneuver, aimed at getting McCain elected. Without something big happening it is very doubtful that McCain will win, so the Rove operation had to do something, and the public might react badly to another shooting war. But, this is perfect for the purpose.
    If the Democrats do anything other than bend over and accept Paulson’s plan, the coming financial meltdown will cause voters to blame Democrats, getting McCain that vote, plus the votes of those who believe in “staying the course” in a crisis.
    If the Democrats do bend over and accept the proposal as originally written, the coming financial meltdown will be the crisis that is so severe that it will serve as a war, and voters will be reluctant to change horses in mid-stream, so McCain wins.
    If the trojan horse fails entirely, the big money men will have taken another 1.8 trillion dollars of our national wealth, which should just about empty the till, so it won’t matter that McCain loses.
    In any case we, the ordinary citizens, will face a certain financial crisis, a huge inflation or devaluation of the dollar, and the big money men get a still larger share of the pot. Burbon, anyone?

  7. If they continue to hold fast to CEO parachutes, it will only hurt them in the polls. That’s going to be an (not the only) issue to flog. It’s a no brainer.

  8. Simply put,
    NO BAILOUT until these spineless MF’ers pony up the small billions (<100) needed to fully fund the VA, GI Bill, NCLB, SCHiP and unemployment benefits nationwide.
    Oh, and follow Driftglass' simple payment formula (http://driftglass.blogspot.com/) for the greedy corporate MF'ers, their lobbyists and assorted straphangers on…
    One limb = one million dollars.
    One head = one billion dollars.


  9. indeed. no parachutes and be glad we don’t just execute them like the chinese would, and hey, since we get the money from the chinese, have them come over and kill the CEOs for us.

  10. Obviously CO2’s was supposed to be CEO’s, but I may just claim I really meant to say CO2’s.

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