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The republicans are opposing it because they want some conditions placed on it which further helps the criminals responsible.  For instance Gingrich has a list of 18 demands including more deregulation that he wants to see enacted before he signs on.  It is the “shock doctrine” in action.  There may be a few republicans who are opposed to it for ethical reasons but not many.  Democrats are supporting the bailout partly because a crisis always makes them skittish and they don’t know what else to do other than follow the leader no matter his moral degeneration, and partly because they are competing with republicans to be the premier water carrier for wall street and this helps them gain significant ground.

After watching the press reports following the meeting at the WH today I think I see something worth making note of.  The Dem’s are somewhat behind Bush for a bailout while the Repub’s are fighting against it. Shelby was basically saying Hell No not a good idea. Could they, no they wouldn’t, could the Repub’s be setting the Dem’s up?  I can see a McCain ad now, I bucked my party and the Dem’s went went Bush who nobody likes.  I may not be articulating it well but I think you get my drift.

Naomi Klein said on democracynow this morning that Paulson had been working on the bailout proposal for at least six months.  Does anyone know where that information came from?  That means they were working on it while saying publicly that the economy was strong.  Isn’t there some criminality in that lie alone?

Why can’t the Fed and Treasury and Congress set a cap on the adjustable mortages that are bankrupting so many people?  I agree with blogger yacovm on rolling back the price to 2000 or thereabouts.
I object to any blank check bailout of the companies on Wall Street without a comparable plan to bailout the average foreclosed upon homeowner. 
If we let all those mortages fail, many of those people will become homeless and a bigger drain on our already bankrupt health care systems.

We have just given our children’s money on blind faith to the people who built the bridge to no where?

the bottom article “First let’s go back to the beginning starting at bubble, although” is the beginning of my comment

Before they got to that point there was a “get rich quick” craze going on and everybody and his brother became an overnight realtor by “flip that house.” or two or three or four, renting them or just fixing them up, and profiting by the fast rising house prices caused by the craze. 
  We can argue who is to blame, apparently both the home buyer and the lender is at fault. The lender acted recklessly and lent and lent and competed to lend. Mortgage and title companies were popping up all over leading the owners like sheep before the slaughter.
  The balance of fault lies on the degree of greed. Could you blame the average Joe that wanted to get rich quick or the banks who should have had more sense?
  Now we know how we got there lets propose how to get out. Giving 700 million to the same banks who got us here, paid for by the average Joe’s taxes and not only that but, Joe must barrow the money with interest just to give it to the ones who lent Joe the money for the house that he is now foreclosed on. That’s like Joe borrowing money to give to heroin dealers in order to make sure they have a steady supply of heroin that they could sell him.
  We have another option but of course it will not be considered because the government thinks it is in their best interest to help the banks thinking it will save Wall Street. We have to let the air out of the balloon by getting the prices of homes closer to the year 2000. The way we can do that is instead of giving the money directly to the banks; give it to the notes that are over priced. Let’s start with Joe’s house and his only house for now. If he paid let’s say $200,000 and he is in foreclosure, reset the value to the year 2003. That means rewriting the note. The year used adjusting the house value would be determined on until the 700 billion is allocated to first every homeowner that will occupy that house(700 billion will just an arbitrary number for now or just a limit).  This will in no doubt cause values to come down all over. This plan could be implemented to the relevance of importance. The homeless first then to the struggling families aiming at the outrageously over priced homes, this will hurt the rich and humble undeserving. There are Joe’s out there that flipped houses until he bestowed on half a million dollar house with an income that can’t support it. He should eventually be included in this bill.
  It all comes down to the basics, supply & demand. Now the supply is high. By slashing prices will create gamut of demand. New loans, transparency and credit will flow like neighborhoods at a block-party. This is the way to bailout Main Street & Wall Street.

First let’s go back to the beginning starting at bubble, although I’d rather refer it to a balloon. In the year 2000 just after post doomsday Y2K the balloon was just placed on stem of the tank of air. During that year a house, let’s say in Holiday Florida would average at $50-60k. During that same year there were many types of easy loans such as HUD and Veteran (it wasn’t necessary to actually be a Vet, one just got a little better rate if you were) which made it very easy for the average individual with $500 and job to obtain approval. Section 8 had a role in this also. If they had 20% of the price of the home they didn’t even need a job. Actually they did, but what was referred to as a “no doc” all they had to do is just say they had an income.
  Now here is where the air valve just barley inflates the balloon. Keep in mind that Holiday Florida is just a reference point and places like California and Miami holds the same principle just different prices. These loans usually carried an ARM which meant 5 years down the road Fannie Mae & Freddie Mac would be tacking on another 2.5-3% interest. These easy loans that owners had to put their signatures on, selling their souls sort of speak, compounded by falling prices.

One good thing to come out of this is that we know now beyond any doubt that there is no democratic party.  There are not two parties, that much could not be more clear.  So now there is at least an opportunity to build something that represents the working and middle classes.  We’re screwed if we don’t.

This is just like the scare tactics used to rush the Congress into approving the USAPATRIOT Act and the Iraq invasion.  The boy has cried wolf one too many times.  It’s time to take a slow and deliberate approach to this so-called crisis.  Giving away a trillion dollars to the criminal racketeers?  Look what the taxpayers get in return: bad mortgages.  What do we do with that bad paper?  Either sell them at a big loss (hence the trillion dollars) or foreclose on the defaulting borrowers, thus making the US Government responsible for the biggest mass evictions since the internment of Japanese-Americans during WWII.  Enough!

First we should not be borrwoing any more money from the Foreign Laon sharks to pay off these Corrupt gamblers Debts…Freeze & Seize their personal Assets- call it a personal foreclosure!
Then offer to ship their asses over to their Creditors for the remaining ‘Balance Due’- the Chinese and Saudi’s have their own ways of getting back what they are owed!How much does a Blonde Ex-Socialite go for now on the Asian Market?
Perasonally I’d like to sentence them for Treason Ourselves- but hey it’s good to Share!
If we do accept a loan from a foreign nation- we then cut checks to every tax payer- to pay their mortgages, car payments, utlities etc- Who ever is still standing in these Corps will find they have payments coming in again.
Prosecute every last gambler and their boardmemebers, but prosecute Paulson & berneke to the fullest extent of the law- their 6 moth old ‘Death Threat’ Ransom Note alone Proves they are complicit!

In the words of the great philosopher and critic of the times, “it’s deja-vu all over again.”
Here we have another example of the rich giving welfare to the rich while the poor, suffer to the extreme and worse. The shrub’s administration, has been about nothing more than robbing from the poor and giving to the rich, while Rome (Washington) burns down, the wealthy are now looting the treasury with impunity.
Rep. Pelosi, isn’t this enough of a measure of the necessary evidence of high crimes and misdemeanors?
Should you not now bring charges against this administration, I have only to conclude that somehow this administration has the “goods” on you and is blackmailing you or even worse, you are in cahoots with this administration and are profiting from the unsound and even criminal advice that is given to the president and his staff.
It shames me, that you are a member of the same party that I belong to and yet refuse to consider the obvious facts that surround this president and his cabinet. You, madam, are not upholding the oath that you swore when you took office, to serve protect and defend the Constitution of the United States of America, so help you G-d!
Furthermore, it is without equivocation that you have prevented the people’s house from dealing with the issues of the day. This boondoggle of a bailout, of people who knowingly risked their money, without thought and for gain, are now to be bailed out by the poor and disenfranchised, those who have no voice and now have no representation in this government.
It is shameful that you continue in the office that you hold, for anyone with commonsense, would by now have impeached this president and the vice-president and then resorted to the law for the prosecution of these same men and women, who have lied and cheated their way through eight years of thievery and misappropriation of funds.
Here we go again, the people are being screwed while the rich and uber-rich, get bailed out of their financial mess on the trillions of dollars of the people’s money. All this without any oversight or accountability on the part of the very people who caused this world-wide economic meltdown.

What did these crooks threaten congress with to get this to go through? GODDAMN, 3 more months of disasterous decisions.