Lawmakers rip 'bait-switch' banks bailout

Mr. President. The Democrats have to pay their union dues!!!!

Mr President...The bank managers want to get the bonuses and their golden parachutes. Please help them with the tax payers money. These poor bankers don't have money even to pay for their golfing weekends in the Maldives!!! Hurry up... do something.

The Chairman and the Ranking Member are at polar extremes of the political spectrum. But both agree that Paulson and Treasury has failed miserably because they have a secret agenda that they are refusing to make public. Paulson originally asked for unfettered authority with no oversight by the White House or Congress. It looks like he got it by default.

Mr. President: You have been set up. This is a no-win situation. If you succeed, Congress will take all the credit. If you fail, you will take all the blame. Meanwhile b.o. is lurking in the shadows waiting for his instructions.

Since congress plans to expand the original scope of who qualifies for some of the $700,000,000,000 why don't they give just $1,000,000 to every US citizen ? That way, we'd all be rich and we'd spend a lot of money and the economy would grow very fast. This would only cost about $300,000,000; a very small percentage of the total $700,000,000,000. After every one of the 300,000,000 US citizens gets one million dollars, there would still be 769,700,000,000 left over to cover the original intent of the rescue bill. Ain't that enough to do it? What's wrong with that? Plus, we'd all be rich! And, they would, make every one of the constituents very, very happy.

americanpartiot's sarcastic proposal actually makes more sense than dumping money in looser businesses and banks. Why not give each taxpayer $4,000 over two or three quarters to revive the economy. Better to bail out the tax payers with $700 billion than pouring it down a big rat hole.

They could also trade everyone's gas powered cars for hybrids or electric cars. That would dramtically decrease our need for importing so much oil. Plus it would eliminate bailing out Detroit. The old cars could be melted down and recycled. Or we could sell them to other countries.

It's too bad some people can't do arithmetic. $700 billion dollars is 700 with 9 zeros. The current US population, according to the Census, is about 305 million - 305 with 6 zeros. If you divide the bailout money by the population, you get about $2,300 per person.

This article also mentions a possible bailout of the Big 3 automakers. NO WAY. Let them declare Chapter 11 so they can restructure. The UAW is part of the problem. Their refusal to accept any responsibility dooms the industry because it can't compete with the foreign cars being made here with a younger, non-union workforce.

The only bait and switch going on in Washington is the one Barney Frank, Chris Dodd, Barack No Bama and all of the members of the Black Caucas ran when they berated regulators who went before Congress to say that Fannie Mae and Freddie Mac were running into problems because of sub-prime mortgages. They were elected by the people to watch over the people's money and instead they either took campaign donations from F/M & F/M or accused the regulators of discrimination because an african american was running it into the ground at the time. Good job, Franklin Rains and company. You guys belong in jail.

We are facing Armageddon. After being made to look really stupid by the banks, Congress and the Senate are now getting all balled up about whatever they can imagine and missing a chance to stimulate the economy and keep millions of Americans working. You really have to wonder what evil forces are at work in our government and for whom these people are working. The American auto industry has stood behind the country for a hundred years through two world wars and these people are hesitating to get behind them and doing their very best to make the economy much worse. They are wondering if they should put millions more citizens out of work and incur costs in the hundreds of billions of dollars in the process. Now is not the right time to make things harder. They can't get the banks to loan money so when they give the automakers their loans, they should also fund Ford Credit, GM Credit, and Chrysler Financial and mandate that these automaker credit companies give out very low cost loans to anyone who can afford to make the payments. http://ewebsmith.com/Finance/hiddendemon.html

Good, it doesn't sit right with me that the elitist illuminati begged for this bailout, under certain terms, and now they're changing them.