CJ—I dont think that most people thought that NOTHING should be done—I wouldnt care—I dont have anything to woory about. But, people in my family were crying about thier IRAs, etc.

I think that what most people wanted was, some regulation (NOW, not later, which never arrives), and something for the people hurting the most. Kucinich, Sanders, Sherman, Kaptur all had plans that would have significantly increased Wall St’s culpability in all this. As it is, I see no reason for them to not keep doing the same thing. I stil get calls for “equity loans” and they are stil on tv. Nothing has changed . They are still rich at our expense,.

I think that the moratorium would give the power that be (unfortutnate) time to think about what to do with these houses. The boarded up ones are bringing down all middle class property values, and they are dangerous. In an urban neighborhood, like mine, it significantly lowers the value of living in the entire neighborhood.

If we need to help Wall St. even if they were wrong, why can we not help those who did nothing wrong? Dont tel me we cant distinguish between those who invested and flipped and who bought a family home. You can already re-finance your 2nd, 3rd, etc. house, or boat, but not your original home. THAT could be changed overnight.

The lobbying money that Congress took from the finanacial sector for this bailout is a disgrace.

If Big B is right, a bailout better structured in the case of Germany, but still highly embarrassing for so-called, “social democrats.” Germany is not us. (Labor is actually represented in the Bundestag.) Not that social democracy in Europe isn’t mostly capitalism with a does of paternalism (taxes on the wealthy, which is a fine idea). We, along with the Chinese, are more ruthless in our disregard for have-nots. While parts of Latin America might turn out a whole different story. (I couldn’t help but get a kick out of Chavez’s comment re Bush having moved to Chavez’s left. Chavez is right enough about that.)

If markets are bouncing up and down more than… Imagine markets not supplied with bailouts. The fact the Dow hasn’t gained three thousand points in two weeks isn’t proof of anything, much less that bailout was pointless. Without bailout, markets might be about to go under altogether.

Would I rather socialism? Hell yes! But that ain’t how it is, and while awaiting that evolution/revolution, people are suffering—as always, except more so than in a long time—under the yoke of capitalist exploitation.

Simply handing over bucks, or Marks, or Yen, etc. to bailout homeowners would do absolutely nothing to service the economy, which is about more than homeowners. Homeowners would only be able to hold out a little longer is all. Obama’s recently announced idea to place a moratorium on foreclosures would be equally useless, only delaying the inevitable.

Unless, credit is at the same time made easier to obtain. Credit cannot be made easier to obtain by handing over taxpayer dollars to homeowners in dire straits, anymore than Bush’s hand-out a while back did anything to stimulate this here-and-real-right-now finance-capitalist economy.

On this one issue, both Obama and McCain voted for what had to be done, while Kucinich, Nader, McKinney and any others to the left of Obama are simply wrong. To be really leftist isn’t always to be populist, albeit better if it could be. (To be a radical leftist is immensely problematic. It was for Bolsheviks Hedges mentioned the other day at TD. It’s quite improper to lump Lenin with Hitler, or with Stalin, if that’s what Polyani meant. Or socialism with fascism, no matter what Hitler tried to claim—absurdly. It was Lenin who asked, “What is to be done?” He might have put it differently: “What is to be done when a polity has been so buffaloed into thinking that their interest is the same as those who rule?”)

Except when that’s the case. Like right now. It is in the lower classes’ interest to advocate bailing out Wall Street. Unless and until the lower classes realize what is in their true interest—to be done once and for all with “invisible hand” we continue to regard as a kind of necessary god. Not yet, as persons of all classes clamor over whether to vote for McCain or Obama, neither of whom represents average people’s interest. No matter patter, as McCain, the elitist, calls Obama elitist, which Obama is, no less than McCain.

Still, very embarrassing when a bunch of Germans who call themselves “social democrats” go along. I’d expect more uproar from real-deal social democrats, who—given action they took—would be more honest were they to refer to themselves as Christian Democrats, pretty much the same thing as democratic capitalists.

Kinda fun, however, to see terms finally exposed for propaganda in the face of real-life crisis.

Big B—I thought the same thing.

It’s funny to read that the bailouts in Europe have stipulations that our gutless polititians were afraid to impose, Like the suspension of dividends paid until the bailout money is paid back. Imagine that, a government holding a corporations feet to the fire.

It must be communism!

Thank Gawd we did that bailout! Whew! And just in time!