Sort of like a roundup, only twice as delicious...
Item 1: Paulson's current plan: $1.8 trillion. Yup, TRILLION. Handed over in a "clean" format (no silly tricks like "regulatory measures" or "accountability" included). Includes anything that can be called "bad debt," even if owned by foreign banks. Includes golden parachutes for incompetent/corrupt high-level execs. Payable immediately - no stalling!
(Sidenote: the URGENCY highlighted and stressed repeatedly by the Administration and Paulson himself really gall me here. You guys took your sweet time getting the U.S. into this disaster, and now you're claiming that the "solution" you slapped together in a matter of days demands our immediate approval? Are you fucking crazy? The Dems better make a serious stand on this, or they'll end up sharing a big piece of blame pie when the plan goes awry - and it will go awry.)
Accede to King Henry's demands and the financial wizards who put us here just may be able to get us out...oh wait no we'll still be in a major economic mess. Okay we'll get right on that massive bailout; thanks Hank!
Item 2: Why are we here? McCain - yes, a big part of it (see Item 3 for more details). Bush - yes, also a big part of it. Spineless Dems in Congress - absolutely. Republican ideology/governance in general - yep, that too. We probably shouldn't think about fundamentally reforming government though. I mean, it's not like all of our leaders are clueless, unprincipled, and incompetent - just most of them.
Item 3: Just how responsible are McCain and his ilk for the current financial crisis? Perhaps more than you'd think. Wait, definitely more than you'd think. In fact, they are very very responsible, and are in position to continue their policies with the next administration. Why not even expand the deregulation crusade into things like social security and health care? McCain '08!
Item 4: Beyond McCain, this crisis should serve as a remarkable historical indictment of Republican fiscal governance. Seriously, the lesson is: Republicans don't give a fuck about you or your money, unless you are a Republican and/or someone with political influence.
Item 5: There's also this Obama guy running for President who has good ideas and stuff. Maybe vote for him?
Item 6: Got any "bad debt" you want the Fed or the Treasury to take off your hands? Now's the time to throw it on the shitpile!
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