I am not a Kool-Aid drinker, but I know facts. This has to do with little guys being given loans they were not credit worthy enough to merit. The “little guys” FROM GROUPS WHO TRADITIONALLY VOTE DIM are not hurting, they benefitted from this.
As to the “scare tactics,” I would love to hear your evidence that the commercial paper market is just fine. I know that lending is up over the last two years. But the last two years is not the issue. The issue is there a credit crunch now. So pony up and give me the evidence you have to counter what the President, Secretary of the Treasury and the Chairman of the Fed are saying about the commercial paper market?
Still can’t find anything in the constituton authorizing the government to extort money from taxpayers to bail out poorly managed multi-bilion dollar financial firms.