BAILOUT PLAN, Too much, too late? Options

[Hellfighter]

I'm not worthy to even get into the details of what's churning beneath this economic catastrophe looming ahead compared to the gurus we already have here discussing it.

But is it just me in thinking why are Repubs and some Dems in congess/ negotiations holding the US and world economy hostage just to save their political backsides.

As I understand it a massive meltdown like we've never seen in nearly a hundred years is only a step or 2 away, but we have Dems in Congress saying "no-no we can get this bailout plan launched ourselves but we want Repubs taking the plunge with us" and the we have Repubs acting like pussies because several hundred constituents are phoning opposing the plan - are the phone calls multiple calls from a few people, or do the hundreds of calls represent thousands saying 'no' to the plan.

Point is, in the face of a catastrophe shouldn't there be a realization to stave off the crisis at hand and later iron out the wrinkles.
I'm asking the gurus here -is this Global economy Russian Roulette of the worst kind?

So far today the market is showing meltdown fear over this bailout uncertainty.

[Robert]

Sorry but when the regulators where going after Fannie an Freddie, the regulators where attacked by the Dems. The Dems were the ones who keep saying there was no problem while blaming Bush and McCain. Who where the ones saying there was a problem going all the way back to 2003 for Bush an 2005 for McCain. Both times the Democrats overwhelming said they were wrong, stating Fannie an Freddie were financially sound.
http://www.youtube.com/watch?v=_MGT_cSi7Rs
0:40 Waters claiming there was no problem at F&F
1:04 Meeks pissed off that the regulators would even imply there anything wrong at F&F
1:34 Meeks saying there is nothing wrong with F&F, calling the regulator overseeing F&F as incompetent to claim there is a problem.
2:20 Clay calling the attack on Raines handling of Fannie a lynching. BTW he was found guilty of cooking the books so he would get a bigger bonus but to Dems that doesn't mean he did anything wrong. Big deal if he walked away will 90 Million, he paid his 3 million fine.
4:00 Davis complaining the regulator did to much.
4:50 Frank saying nothing is wrong at F&F
7:45 The CEO of Fannie saying the loans it holds are risk-less
etc.

This has little to do with Bush, if you disagree please explain what you think he did. I would agree many Republicans in congress are just a dirty as their Democrat counterparts. I would also agree that predatory lending played a SMALL part in this but not because of your claim of "cough ... Gramm ... cough."

Instead of picking two lines from the letter, read it as a whole an what it implies.
Remember the the oversight of F&F was the responsibly of different Congressional subcommittees.
Bush thought they were failing to do their job, they claim they weren't.
Who do you think was right based on the fact F&F did fail an the government had to take them over?