Bush: A 'Critical Moment' for Economy - washingtonpost.com
 Quote:
Instead of simply purchasing distressed assets from financial institutions, some Democratic economists favor injecting lenders with cash in exchange for stock, letting the institutions figure out what to do with the mortgage-backed securities and other troubled assets weighing down their books.
A Democratic bill would also include more money for homeowners in or facing foreclosure and would change the bankruptcy law to allow judges to adjust mortgage repayment terms. But Democratic leaders would have to ensure that the measure could survive a filibuster in the Senate and would be signed by the president.
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I'm confused. If this is a 'Democratic' proposal, then why did more Dems than Repubs vote in favor of Bailout Bill #1? It seems like the Dem vs. Repub distinction isn't useful in the bailout fight.
Another way to divide the pie would be into people who advocate using taxpayer money to:
1. cover Wall Street gambling debts, and/or
2. cover Main Street gambling debts, or
3. cover no gambling debts
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