More Re- the Bailout (It's Not Dead Yet)

Few have had time or whatever to actually read the proposed bailout bill that was just (for now) defeated. From one who did, the bill would have provided:

1. That Sec. of Treasury Paulson can violate all statutes with impunity, and no one can sue.

2. That even if you prove a Constitutional violation in court, any order in your favor is STAYED (put on hold) until Paulson is done appealing.

3. So after you litigate for months or years in appellate courts, and assuming you finally win (again) in the trial court AND the final court of appeal, all you get is an equitable order for the Secretary to (finally) stop violating your Constitutional rights -- WITHOUT any enforcement remedy if he fails to do so (i.e., any penalty to him or compensation to you).

4. And, even then, he can keep on violating your statutory rights, forever.

More here.

Here's Pelosi on the bill (and if you don't get what she says, I suspect you could benefit from diversifying your news sources).

Here's The New York Times re- the plunderers' machinations in connection with the bailout bill:

"Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.

"Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.

"At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees."

There are many alternative approaches to resolving this crisis -- as Bloomberg reports, "Hundreds of Economists [Have] Urge[d] Congress Not to Rush on Rescue Plan," and there are in fact good arguments that one or more alternative approaches would work BETTER -- but unfortunately, only one constituency had a plan sitting on the shelf ready for the crisis they helped create.

Finally check this out re- the interests of the Carlyle Group.

We can't afford to let them scare us into another gargantuan mistake. Go here to find out how your congresscritter voted; and/or contact them here.