Congress Helped Bankers Get Into the Mess

If you want a chronology of how Congress allowed deregulation to exploit consumers on the credit side, read Deviltower's piece at Brand X, Three Times is Enemy Action.

You also know that the Bush/Paulson robbery plan to help their friends is bad when even Newt says Congress should be asking a lot of questions. Cue Newt:

Congress had better ask a lot of questions before it shifts this much burden to the taxpayer and shifts this much power to a Washington bureaucracy.

Imagine that the political balance of power in Washington were different.

If this were a Democratic administration the Republicans in the House and Senate would be demanding answers and would be organizing for a “no” vote.

I concur with Glenn Greenwald that bi-partisan debate is healthy.

I still trust no Bush.