$2,000 for every single American - no it's not what you think

Update 1: Think the $700 billion in the bailout plan is based on actual need? Think again. A Treasury spokeswoman tells Forbes.com: “It’s not based on any particular data point. We just wanted to choose a really large number.”
Update 2: My post on the Bush Bailout speech
Update 3: My 2nd post re: McCain's request for a time-out and letterman's response to that

"President Bush wants Congress to give his Treasury Secretary (Henry Paulson, a former Wall Street executive) $700 billion to bail out wall street with no congressional or court oversight. That amounts to $2,000 for every single American.

Would it help families struggling to keep their homes? NO. Do taxpayers get any share of the firms we're bailing out, so we can benefit from any eventual profit? NO. Would the firms we're bailing out be required to stop paying their executives multimillion-dollar salaries? NO.3 This is a pure giveaway of epic proportions.

Even some Republicans are admitting this is crazy. Rep. Jeb Hensarling (R-Texas) asked, "Just how long can the poor beleaguered taxpayer be expected to bear all the losses and bear all the risk?"4 Rep. Steve LaTourette (R-Ohio) said, "I'm getting a lot of calls from my district, with people saying, why are you bailing out the big guys and not us?"

Main Street before Wall Street petition can be signed here

This will be the largest intervention in the U.S. economy by the government since the great depression. They are hoping to have the legislation passed within the next few days.

"Decisions By The Secretary...Are Non-Reviewable...And May Not Be Reviewed By Any Court Of Law Or Any Administrative Agency"

Outrage Over $2.5 Billion Bonus For Lehman Brothers' New York Staff - Lehman Brother's is one of the Companies who are going to be bailed out.

Good ol' Ron Paul's take.

If you are in New Jersey you can call our members of congress:

Here's where to call:

Senator Frank Lautenberg
Phone: 202-224-3224

Senator Robert Menendez
Phone: 202-224-4744

Congressman Robert Andrews
Phone: 202-225-6501

Actual Audio - Paulson on the bailout - including the U.S. bailing out

foreign banks:


"The Daily Show's" Generic Off: The Candidates Responses To The Financial Crisis:



Daily Show: the economy and you - wall street collapse:



"We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself," - Republican Party Platform, 2008.