The problem is that Democrats screwed with the bailout from the beginning trying to lard it with all their pet ideas. Also, the voter is king, but the voter is also the mob. These guys need to do what is best for the country. The voters might like like the bailout, but I'm telling you, the voters will like it even less when unemployment hits 20% or 25% like it did in 1934. When Warren Buffet says this is like Pearl Harbor, you better listen. As a business owner, I know how it goes. The banks stop lending money, I can't order any products. I can't order any products, then, I've got nothing to sell. At that point, I have to get rid of employees. That's how it works Joe 6 pack. So, you better start believing this has something to do with you. As Paulson says, the public is already on the hook. Do you know who will hold the bag if this deal isn't done? About 100 Wall Street guys and about 30 million Joe 6 packs. Wake up.

Congress is quite right to be wary of this bailout deal. $700 billion? To buy bad debts? With a silly war in Iraq? Are you kidding? Where will money for bridge repair come from? This money will evaporate and we'll all be standing here wondering what kind of scam Bush pulled off. I hope Congress is very very careful here. This looks like a slightly early October surprise. I'm not buying this whole episode entirely. Something is rotten here. Keep digging. Someone's full of crap. Pause. Think. See what the markets do over the next week.

Think. Desperate Republicans. Lying Bush with a war to fund. Something's up folks. Major sneak attack. Careful.

Democrats are responsible for this mess. Under Barney Frank's politically correct regs, lendors were not even allowed to ask for social secutity numbers so as not to discriminate against illegals and felons. If the past won't destroy us, surely a $700 billion gift to corrupt politicians and their henchman will bury our families for generations to come. NO BAILOUT!

I remember when the GOP was the party of responsibility. What a joke. For 6 of the last 8 years they held the White House (along with every federal department) and both houses of Congress. And still this colossal mistake is not their fault.

So either it is their fault or they are completely ineffective. Not sure which is better.

Dems should just allow Repugs fight and kill themselves on this one.

The White House will be fighting Repugs in Congress.

Let them eat each other in their dog-eat-dog world.

The Dems should not give in on the clause to defend average American homeowners.

If they can not have that in the deal then there will be no deal.

At least McCain can have his excuse not to debate, but he will pay a HUUUUUGGGGEEE price for this at the polls come Nov. 4th..

MCCain is against the middle class that is losing their homes in droves.

House Republicans are not torpedoing the deal.

Pelosi is because she is demanding a certain no. of Republican votes for cover.

She can pass the bill, but doesn't want the public to realize her party is as much for rich bankers than the Republicans.

i agree that the process needs close scrutiny. why on earth would anybody trust the heads of finance chairs and the president who were in change of overseeing the economy and that brought us this disaster to solve it. i find it telling that democrats leaders had the audacity to try to shove this thru and attempt to shut-out republican input.

Claim: McCain claims that he championed legislation that would have prevented the current financal meltdown;

Fact: False/Misleading

In his September 19th speach in Arlington, VA., Sen. McCain states:

"Two years ago, I called for reform of this corruption at Fannie Mae
and Freddie Mac. Congress did nothing. Senator Obama did nothing, and
actually profited from this system of abuse and scandal"

What he is referring to is a Senate bill (S.109[109th] Federal Housing Enterprise Regulatory Reform Act of 2005) which was originally authored by Sen. Charles Hagel and co-sponsored by Sen. Sununu and Sen. Dole. It was not until after a 2006 Office of Federal Housing Enterprise Oversight Report to Congress outlining problems with the two organizations that Sen. McCain decided to add his name to the bill as a co-sponsor. The bill never made it out of committee (Senate Committee on Banking, Housing and Urban Affairs), which was at the time controlled by a Republican majority and chaired by Republican Senator Richard Shelby. The statement about Congress and Sen. Obama doing nothing is true, but misleading, since there was nothing that they could have done until the bill came to the floor of the Senate, which it never did.

Sources:

http://www.govtrack.us/congress/bill.xpd?bill=s109-190
http://www.ofheo.gov/AnnualReports.aspx
http://www.sourcewatch.org/index.php?title=Senate_Committee_on_Banking%2C_Housing%2C_and_Urban_Affairs#109th_Congress_.282005-2006.29

The bailout must die. It is nothing but a $700 Billion stolen from the American public to be given to Wall Street executives. No wonder Bush and his people are livid, fuming at the idea that their $700 Billion gift to their best friends might be cancelled.

Obama took the lead here, loud and clear. While McCain is being a pusssy, trying to skip the debate lest his stupidity be revealed, Obama is standing firm, and staying on topic.

Now, Obama has placated McCain's politicing of the debt crisis. Time to move on, and hold the debate. Does McCain have the guts to face Obama?

This is exactly why the Senate and House asked John McCain to stay away: if McCain had not come to Washington, there would not have been a meeting at the White House, and if there had not been a meeting at the White House, the deal would not have blown up. Thanks, McCain! WElcome to the Depression!

OBAMA IS A COMPLETE PHONEY!! WHERE WAS HE BORN? KENYA? SHOW US YOUR BIRTH CERTIFICATE. OBAMA IS A SOCIALIST AND STREET ACTIVITIST FROM DALY'S CHICAGO. HE WILL POLARIZE AND DESTROY THE U.S. WAKEUP AMERICA BEFORE ITS TOO LATE!!

Alessandro, if you don't believe Bush, then listen to Warren Buffet--an Obama supporter by the way. He says we are going to go over the precipise if this is not done. When I think, which do I want, a bailout or a serious recession or depression, its a no brainer.

Chris Dodd in charge of Banking!?!? That's like having Mike Vick be your dog walker. Can I get an interest free good buddy loan like he did and over $150,000 cash, from the same companies that started all this!!!

PJR

saying let hte banks fail shows you do not understand teh scope of what is happening...

this isnt just a simple, oh they screwed up let them pay for it

if we LET them pay for it... if we let things just unload...

its a GLOBAL problem.. the GLOBAL economy tanks

the banks that ARE OK, stop lending money

then what happens is a ripple effect... and you can claim you dont care, but heres what happens

banks stop lending to small businesses and otehr people... those businesses go under

unemployment sky rockets

suddenly bigger and bigger companies start to fail because there are less and less people working, and who have money to spend

then what happens is those middle and lower class people lose their jobs and houses, and then people start to get sick and now we have a medical crisis on our hands

the money trickles down

and the pain trickles up

unless you are rich, and have your assets and money liquid

the ripple effect from this could cause a massive massive disaster that you obviously dont understand...

this will effect YOU

if this doesnt go through, IF we DONT put up the money NOW

we are all doomed...

the good news is that, the bail out can make the tax payers money, if the government sells back the morgages at a profit

a lot of the loans are good loans

Include in any agreement that congress cannot spend any more money on special interest groups. This mortgage debacle is simply giving houses to democrats born and maintained on welfare pure and simple.

Paulson is afraid he won't be able to keep his promises of an open ended bailout to his wall street buddies.

McCain has done nothing on this issue, he is on no relevant committee, has no relevant experience, and possesses no relevant knowledge, they were actually closer to a deal being done until he made his stunt.
I personally need a president that can work on more than one problem at a time.
Obama also is not on any of the relevant committes, he's consluted with experts made his proposals and is letting the process happen. That IS doing his job.

I say again, all McCain has done is try to hijack this process so he can claim some personal victory, it is grandstanding on a delusional scale.

Why is everyone in this comment section so crazy?

It's time for the people to retake Washington. The politicians are irrelevant, or worse. The Democrats are the most loathesome of the bunch. (Remember which party wants to eliminate the Second Amendment? This is why!)

The gutless wonder Dem second string are warning of a "race war" if their boy doesn't get elected and they get their way.

The Press has lost its entitlements under the First Amendment through partisanship and attempts at rigging the election.

So, when the politicians are run out, the print and electronic media ought to be flushed out, and start from anew.

Soon, they'll have us facing bayonets. Better them than me.

The Democrats better not let this one get out of hand. Bush tried to get them to act and they control the purse strings on this bail out. I hope they aren't playing around to try and get Obama elected, they will all pay dearly in this next election.

Marty,

Just f up with your Obam abith certifcate crap.

We are tired of these distractions when there is 3/4 of a trillion at stake.

Just go to hell Bozo.

McCain is a citizen of Panama so stop disturbing.