Don't like it.
The more I hear about this bailout plan, the less I like it. It's basically a gift to the big houses without oversight, regulation, and accountability. It says, "we'll take your bad debt and leave you to go on, business as usual".
I won't support this schlock until there is a provision for those who dip into this 'slush fund' to dissolve their corporate boards and relinquish control to government oversight; no golden parachutes, no bonuses, nothing.
Until the people who caused this mess are removed, until there is strict oversight, and until there is a review and correction process over Mr. Paulson and his handling of said 'slush fund', it will never get my support.
As it stands now, the plan is junk. It's a blank check ($14,000 of it comes out my and the Mrs' pocket; you're all liable for $7000 of shitpile, by the way), for the big brokerage houses and the Bush administration (and we all know how well they did with the last 'blank check' we gave them).
Sadly, we all know Harry Reid and Nancy Pelosi will cave and it'll be accepted without delay. I forget which blogger said it, but it's absolutely true. "The Dems suck as a minority party and suck even more when they're in the majority."
I urge you to call your reps this morning and advise them to send this shit back to the Chimp with a note to shove it up his ass. The onus is on the Dems in Congress to come up with a plan that provides protection for Americans' tax dollars, establishes strict oversight of Wall St. and the banking industry, and takes control of the fund away from the Bush administration.
Until then, it's just another form of Republican corporate welfare and I won't abide it.
And just an addendum: As a responsible taxpayer and user of credit, I take great umbrage to folks of any stripe getting a bailout for their bad decisions. When's someone gonna give me a bonus for paying my bills on time and making sound financial decisions? If folks are getting their debt erased, from mortgage houses to people who took out loans they knew they couldn't afford, I want something for not putting myself in that position, for not being a burden to my fellow taxpayers. Where's the payoff for me for being responsible? Why should I have to pay for other people's greed and stupidity? Just askin' ...