from the courier post:
"Money for the rescue plan would be phased in, he said. The first $350 billion would be available as soon as the president requested it. Congress could try to block later amounts if it believed the program was not working. The president could veto such a move, however, requiring extra large margins in the House and Senate to override.
Despite the changes made during an intense week of negotiations, the heart of the program remains Bush's original idea: To have the government spend billions of dollars to buy mortgage-backed securities whose value has plummeted as hundreds of thousands of Americans have defaulted on their home loans."
dress it up in as many fancy words as you want, the purpose of the bailout is to give rich people free money so they don't wreck the economy in something akin to the captain taking the first lifeboat off a sinking but savable ship.
it doesn't take a genius to figure out that printing 700 billion dollars and getting nothing for it is a recipe for disaster in the long run. and if this is the best compromise we're going to get, goodness knows we need a president with more loyalty to the american people than bush.
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