[Thane_Banquo]

I was a bit bothered this morning to find that one of the “facts” that made this palatable to me, that a majority vote was needed to release more than $250 bln, was not in the final bill itself.

I was working under the assumption that the Dems had enough votes to pass it themselves, but needed GOP “cover.” I thought we were trading “cover” for getting rid of ACORN and cutting it from $700 bln to $250 bln. I thought if we didn’t go with it, they would put in ACORN and raise the total. Turns out that was not the reality, so it is probably better that it went down.

Let’s hope the House GOP bill gets some traction. I wouldn’t be surprised to see Paulson resign if nothing else passes by the end of the week.

[Parmy]

Thane, The truth of the matter is that we don't need a 'bill'. Doing something just to be something before one knows what is really happening is far worse than doing nothing. Doing nothing lets the factors sort themselves out. This gets rid of the crooks, thieves and just plain incompetent. It is like a cancer. It needs to be cut out. Then the healthy can flourish. Incidentally, my son works for a community bank that resisted the 'subprime' pressure and are extremely solvent. They now have the problem of receiving money, lots of it.

By doing nothing one allows the unintended consequences to be minimalized Credit hasn't stopped. It is just that now one has to prove that they are a good risk with adequate track records and collateral.

Now the real solution to the problem is to go to the root of the problem, which is the CRA. Also, to purge the thieves in Congress that allowed this to happen.