The $700 Billion Questions

David Sirota, In These Times: "If a museum in the next superpower nation ever commemorates the decline of the last great superpower, it will make the two-and-a-half page bill introduced this week the center of the display. Just as they do today at the National Archives' Declaration of Independence exhibit, tourists in the future-perhaps in Beijing, perhaps somewhere else-will line up to see a framed draft of this week's White House legislation demanding Congress surrender its power of the purse, and give an unelected appointee-in this case, Treasury Secretary Henry Paulson-the power to hand over $700 billion of taxpayer money to 'any financial institution,' 'without limitation…on such terms and conditions as determined by [him].' In a nation priding itself on separating powers between the branches of government, the bill explicitly states that decisions by Paulson may not even 'be reviewed by any court of law or any administrative agency.'"

The Great Switch: Banks Rob People

Jim Crotty, Truthout: "The US government is on the verge of making an unprecedented financial commitment, likely to cost $700 billion, to buy the bad securities held by large US and foreign financial institutions. Having driven our economy to the edge of financial destruction, the Lords of Finance now want the public to put up the money needed to save them and their firms from collapse. Maybe men don't bite dogs, but banks do rob people."


Critics See Bailout as Massive Blank Check

Now Is the Time to Resist Wall Street's Shock Doctrine

Too Big to Fail and Too Small to Matter

GOP: Lose Your Home, Lose Your Vote

Global Priorities: Feeding Markets, Starving the Hungry

A US-NATO War In Pakistan? - An Anatomy of the Current Crisis

Bailout Plan Won't Be End of Wall Street Bailouts


Now Is the Time to Resist Wall Street's Shock Doctrine

By Naomi Klein

The best summary of how the right plans to use the economic crisis to push through their policy wish list comes from Former Republican House Speaker Newt Gingrich. On Sunday.

The 50 Richest Members of Congress

By Paul Singer, Jennifer Yachnin and Casey Hynes

Rranking of the 50 wealthiest Members of Congress based on the minimum net worth reported on their financial disclosure forms.


Before DC gets our money, it owes us some answer

The Corner
by Newt Gingrich


If this were a Democratic proposal, Republicans would remember that the Democrats wrote a grotesque housing bailout bill this summer that paid off their left-wing allies with taxpayer money, which despite its price tag of $300 billion has apparently failed as of last week, and could expect even more damage in this bill. But because this gigantic power shift to Washington and this avalanche of taxpayer money is being proposed by a Republican administration, the normal conservative voices have been silent or confused. It’s time to end the silence and clear up the confusion. Congress has an obligation to protect the taxpayer. Congress has an obligation to limit the executive branch to the rule of law. Congress has an obligation to perform oversight...

Informant: Thomas L. Knapp


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