Of course, this is all part of a larger Kabuki drama. Paulson is insisting that Congress release the remaining $350 billion of the now-misnamed Troubled Assets Repurchase Program so he can hand out more cash to his industry buddies. Congress will be damned if it gives Treasury any more money, given that the funds have so clearly been dispensed with no controls to favored parties. But since they don't dare say the taxpayer has been ripped off (that would call their judgment into question for acquiescing to the hastily drafted and aggressively sold TARP), they will pound on Treasury as many ways as they can.

If you are about making this even-handed, and not casting the bailout as "Obama's" ... dig in!

Not content with the $5 trillion already going into the various bailout efforts Barak Obama is suggesting that the U.S. auto industry also get its fair share of time at the trough.

In your fantasy world the bailout was proceeding swimmingly ... until Barak Obama suggested that it go to auto companies.

Obviously factually false, to start.

But go ahead, try again to make it about me.

This is worth a read.

You are a gift that keeps on giving. I've been very hostile to Bush for quite some time. Your ignorance only does you a disservice. But feel free to revel in like a pig in mud.

And no Odo you are focusing on a small part of the problem. You really should go through the archives. For example, Fannie Mae traces its history back almost 80 years to the Great Depression. Ginnie Mae securitized the first bundle of mortgages back in the late 70's. Fannie and Freddie got involved in the maddness when they got caught in a scandal. Glass-Steagall was sponsored by Phill Gramm, among others, but passed with largely bi-partisan support and signed by Bill Clinton. CRA was the umbrella under which many to lending were enacted. Private industry was happy to ride the gravy train while it could and excacerbated the problem with bad incentive structures to bonuses. So lots of blame to go around. To focus on Bush is to demonstrate tunnel vision. It is your problem not mine.

Soooo what would you call Medicare? How about Freddie Mac and Fannie Mae? What about the new insurance program for all Americans? We have been heading down that socialist path for years.

Yep.
I'd call it, the wrong direction.

Sure Bush deserves blame, but so do lots of others.

There is a lot of blame to go around.

But there is only one President. And President Bush has been focused damn near exclusively on Iraq, which is exactly what Bin Laden wanted.

Keep in mind that Bin Laden is on record saying he intends to destroy America's economy, because he knows he cannot defeat our military.

Wonder why Bin Laden keeps talking about "the central front" in Iraq. Our President has been led around by the nose by our greatest enemy, while the GOP stood and cheered. Now we get to try and dig our way out of the wreckage...

Bush signs $25B auto loan bill

I lay it at everybody's feet who has held elective office in DC in the last...mmm...thirty years. So spare me your ramblings about partisanship Odo. Further your moniker of Bush's $5T is even worse. Sure Bush deserves blame, but so do lots of others.

Stop right there. Congress already voted $25B to Detroit, before Obama was President-Elect, right?

And I'm sure every realist amongst us here would acknowledge that Congress would vote more were Obama not in the picture. Arguably the only think any President or President-Elect could do at this point is manage expectations and try to limit the size of the inevitable bailout.

You are making a strange claim of my partisan ship when (a) I am still technically a Republican, and (b) I'm focusing on 99% of the problem.

I'm not the one focusing in on 1% with tunnel vision.

You seriously don't want to talk about 99% of the problem ... because you can't lay it at Obama's feet.

I lay it at everybody's feet who has held elective office in DC in the last...mmm...thirty years. So spare me your ramblings about partisanship Odo. Further your moniker of Bush's $5T is even worse. Sure Bush deserves blame, but so do lots of others.

So spare me. Please.

Deanna,

Soooo what would you call Medicare? How about Freddie Mac and Fannie Mae? What about the new insurance program for all Americans? We have been heading down that socialist path for years.

Yes I know. Americans can't seem to take care of themselves anymore. They need Uncle Sam to take care of them.

Attempting to use the weak stick that Obama is already looking for votes in 2012 shows that it is actually people such as yourself that are the problem.

Pandering to voters, by both Republicans and Democrats is the root problem.

While you might think that picking and choosing who goes down the tubes in this country is fun, those who are working for the Big 3 are people who have bills to pay and if you put 3 million people out of work?

That whooshing sound, was my point going right over your head. I don't think anyone should decide which firms fail or succeed, especially politicians. That you appear to think otherwise means YOU are part of the problem.

Good luck keeping your own job. It's easy to bitch right after an election but all I've seen for the last 8 years? Is total waste so I'm willing to take a chance on a different plan.

Your unstated premise is that I think Bush has done a good job, especially in the last few years. If you look through the archives I've been rather critical of Bush.

Only difference between you and I? I KNOW I'm not as smart as Obama and the team he has working with him.........

Oh I know Obama is smart. Problem is that just makes him a despicable liar, like all politicians.

See, I'm not playing favorites here. I dislike all politicians as venal scoundrels. I'm truly equal opportunity in my scorn for politicians.

1) do nothing(*) and accept the business cycle

2) do politically driven quasi-stimulus actions(**)

3) do rational economic stimulus

On the last, I like Bang for Your Stimulus Buck. I mean, I'd like choice 1 if I though we wouldn't see more people living on the streets. If that's a real possibility, and not just Paulson scare-stories, then I'll take 3.

* - beyond required FDIC etc. obligations

** - Paulson's Pals