Remember the National Lampoon cover showing a puppy with a gun to its head? That's the Paulson plan.
Henry Paulson isn't proposing the nationalization of private corporations--he wants a corporate takeover of government.
Bernanke is asking for trust he has not earned. Here's a shortlist of conditions to make this a credible deal.
Instead of handing Bernanke $700 billion with no strings attached, government should take over the banking and finance sector, clean it up and start funneling money into the real economy.
The bailout jeopardizes the entire progressive agenda, undermines democracy, doesn't compensate us for our money and doesn't solve the problem. Otherwise, it's great!
The Paulson/Bernanke bailout plan is not the way to go, unless you work on Wall Street. Even if you do, there are compelling reasons to fear it. Here's what Congress should do instead.
Even without knowing the specifics of Paulson's staggering rescue plan, you can kiss the environment, preschool education and health insurance for all goodbye.
Paulson's rescue plan represents a historic swindle--all sugar for the villains, lasting pain for the rest of us. Don't let Wall Street get away with this without enacting significant reform.
Washington's mission may, at this late date, be an even greater one than Roosevelt's New Deal faced.
Fifty-seven million American families, who put their money in theoretically stable investments find themselves staring into the abyss.