Wow, just wow!  Hopefully they will stay in Washington and implement a plan that has a chance in hell of working.
This is a rare victory for democracy, folks!  Now they need to get it together, consult real economists who aren’t owned by Wall Street, and come up with a plan that makes sense.

So far, very bad. Suspends mark-to-market pricing (not surprising, as it would BK many banks), allows banks to maintain ZERO percent reserves as of Oct. 1 (are they encouraging a bank run? From the comments of another blog: “Can it still be called Fractional Reserve Banking if there’s a zero in the numerator?” - [...]

It is getting difficult to find this picture anymore:

From a press conference held on June 3, 2003 — Pictured are Bush Administration officials from four of the five government agencies responsible for financial supervision using tree shears (the fifth representative, James Gilleran of the Office of Thrift Supervision is wielding a chainsaw), to symbolically [...]

We are at a critical juncture in our country’s history.  Congress is being pressured to pass a bailout package that will cost the taxpayers trillions of dollars and create runaway inflation.  We can’t afford it, and the people asking for the money know it.
It is important to recognize that the Treasury Secretary, Henry Paulson is [...]

Please read this, Petition: Economists against the Paulson Bailout Plan.

This outrageous but true statement was made by John McCain in the Sept./Oct. 2008 (PDF) issue of Contingencies, the magazine of the American Academy of Actuaries.
Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened [...]

Here’s the text of what I’ve been mailing and faxing to my Senators and Representatives in Congress.  Feel free to co-opt all or part of this message for yourselves.
OPPOSE THE BAILOUT
America can literally NOT AFFORD the cost of the Bush Administration’s proposed bailout. The unfortunate reality is that residential real estate prices are still too [...]

Ok, gentle readers, this is THE moment we have to stop the largest fraud our Government has ever attempted to perpetrate on the taxpayers. I have many thoughts on the Treasury Secretary’s power grab, but I can’t say it any better that Yves Smith has over at Naked Capitalism, so I will direct you [...]

“How can we bailout Lehman without the public knowing about it?”  That’s about the gist of the current thinking behind Bernanke & Paulson’s latest scheming to rescue the next investment bank on the chopping block, Lehman Brothers.
Paulson is publicly making comment that ‘no Federal monies’ will be involved as the Treasury is seeking to orchestrate [...]

Bush administration officials involved in a new sex & drugs scandal, who would believe it?  That it also involves drilling for oil on U.S. public lands invokes that unique feeling of irony that only the morally smug republican party can deliver.
This breaking story gives a whole new (and considerably more lurid) meaning to the cry [...]