We just wanted to choose a really large number.

We just wanted to choose a really large number.

I’m sure it was there, I just must have overlooked it.

that I had about the bailout. It seemed that Paulson was really shooting from the hip.

A number pulled out of an orifice does nothing to engender confidence.

for you.

They want us to follow an arbitrary “really high number”??? This is supposed to restore investor confidence? Do they have any idea how much money that is to every taxpayer?

Yes, reform measures are needed, but no, we don’t have to pay them money to implement the reform they need for their future protection.

It strikes me McCain is not sold on this course of action when he says “doing nothing is not an option”. Some other options might include:

1. Spend that $700 million in a “trickle up” economic stimulus that allows every American a $5000 Investment tax credit to invest in American Companies employing American Workers.

2. Unveil a “McCain Plan” and get the bipartisan support needed. At this point, a smaller bailout coupled with some type of tax break will pass. Great opportunity for us here to dodge a bullet and do some good for the economy at the same time.

and/or

1. Outline every day how Obama’s tax plan and economic policies would worsen the crisis and hurt “Main Street” and not just “wall street.”

This morning, it was reported on NPR that the Treasury Department didn’t plan on spending any bailout money until 3-4 weeks after a bill was passed. So all that stuff about a critical need to pass legislation this week was just so much guff.

Despite the risk, I’m glad this albatross of a plan failed. Here’s hoping for a little more honesty and justice with the next plan.

(That’s why this failed, IMO. A bailout of speculators with no long-term-consequences just seems too unfair, no matter how much taxpayer protection there is.)