Are Pelosi and Reid caving again? Will the Democrats show some guts?

[Onlooker]

The Bush adminsitration will propose a $500-$800 billion asset buyout that will in effect help the greediest people. (http://news.yahoo.com/s/nm/20080920/bs_nm/financial_bailout_details_dc_3)

The Democrats appear to be caving in to the administration, and aren't making any demands to help, as Obama put it, Main Street as well as Wall Street. Progressives need to move quickly and demand that Pelosi and Reid secure some concessions from the Bush administration, such as:

(1) An Independent prosecutor to investigate government and corporate fraud
(2) Tighter controls over corporate greed
(3) Increased taxes on those who will be benefit most from the bailout
(4) Help for people who can't afford their mortgages
(5) A bailout for the people whose lives were ruined by Katrina and Ike.
(6) Laws to severely penalize those companies that create foreign tax havens

I think Pelosi and Reid hope to push this thing through before progressives can mount a serious protest.

[Phredicles]

1. Are Pelosi and Reid caving? Are bears defecating in wooded areas?

Worthless fucks - I hope they're removed after the election.

[elleng]

2. We have to understand all of this

before we start calling names, imo. Whatever it is, should NOT turn into a christmas tree, with 'decorations' for everyone, which WON'T make it through Congress.

"Lawmakers have said they would move quickly to try to implement an asset-relief plan, which Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke have argued is needed to ensure bad debts do not take down the financial system and the economy."

[abumbyanyothername]

4. delete

[lxlxlxl]

3. Who do you think will take the blame if the big banks fail and the dow drops 1000 in a week?

Yes, I want exactly what you do, but if the Pelosi/Reid came out and said the markets have to take the losses they have made for themselves, then you are also going to get a ton of Republicans winning seats.

If the market dropped 10% in value, the country will blame the Dems. They have flooded American's minds with the idea that liberal econ policies destroy economies, and that somehow Baby Jesus makes markets work when they work.

I wonder if people are clear eyed and focused on the traps sent for them.

You've seen repeatedly how quick our dumb-ass short term memory press will make it look like the same party that has run government more than any other in the past 50 years is somehow the same party that is both fiscally conservative, reformist, and "is patriotic."

The Democrats are stuck between a rock and a hard place. Just deal with it. If you want to make sure this never happens again we better get as many Democrats we can in office, and cut off any chance that the market can hold this country hostage again. It will require attention past the crisis.

[Onlooker]

8. I don't agree

The Democrats need to come up with a responsible plan, but it's the Bush administration that needs to compromise. The Democrats have the upper hand. If the Democrats say, let's raise capital gains taxes on corporate bonuses and buyout plans and let's demand companies avoid foreign tax shelters and let's investigate those who may be trying to manipulate the market, I don't think the American people will see that as unreasonable.

Kowtowing to the right, like the Democrats also do by ignoring the issue of racism against Obama, merely gives more cards to the right, and makes the Democrats look weak.

[mvd]

5. K&R

Imagine the national health care that could be given instead of this bailout! Such hypocrites the Repukes are - they only like government when they need to save their own economy from collapse.

[Imagevision]

6. Pelosi and Reid will show plenty of guts - once Obama is sworn in...

[mvd]

7. This bailout is a trap

Repukes like Bush and McSame starve everything and do this, and Obama will be limited in what he can do to help the middle class and expand health care. I really hate these Repukes. :grr: