Well hell. So, the big bailout plan amounts to freeing more consumer

[daninthemoon]

credit. That's what I just heard Bernanke say. So, more federal debt to create more consumer debt is the best answer? Where is the end? I can't stand it.

[Robbien]

1. Yep. No help in getting people out from under their mountain of debt

We are being told to give our taxpayer money over to the lenders so that the lenders can lend our money back to us.

Sounds about right for these crooks.

[Lasher]

2. Debt is one of the things that got us in this pickle in the first place.

Bernanke is an idiot. Congress needs to mothball stimulus plans until January since this is obviously the best the Bush junta can come up with.

[daninthemoon]

4. remember where the walker bushes got their fortune? they were

bankers, elite bankers, and I'm betting that the family is getting a huge payoff out of this, to cap off their haliburton and other 20th century energy investments. this was the last big money grab, and congress handed it over with a silver platter, just like so many things over the last eight years.

[Lasher]

6. Holy shit, I never considered that angle.

Now Prescott Bush comes quickly to mind.

[Triana]

3. Dumbest ass idea I've seen yet. People don't NEED debt and credit. They NEED jobs...

....credit comes LATER when they have jobs and money to spend. Duh.

God, what an IDIOT! Bernanke is a vacuum-packed moron.

[daninthemoon]

5. the same day they gave citibank all that cash last week, I got a

notice that the interest on my citi credit card was jacking up. No explanation, and I've been ahead on every payment. I'm starting to see the waters rising, and this mess hasn't even really started yet. It's going to get real bad, because the whole plan is centered on more debt. More money filtering up to the top: the banking friends and family of bush.

[charlie]

7. Bernanke is Greenspan redux

That's why this shitstorm is freaking the daylights out of him and his response has been so ad hoc. He believed bubbles can't be accurately ascertained while they're happening and so should never by popped by monetary policy. Instead, interest should be lowered after they've burst. Nor did he think the US was over-consuming, instead he felt that our hyper-consumption was doing the world a favor by mopping up Chinese over-saving. That's right, we were cleaning up a savings "glut." In other words, he's no different than Greenspan. In fact, he was once an academic whom Greenspan relied on for intellectual justification for his negligent policies.

The captain of the Fed is a guy who is learning anew each day that everything he knew is wrong. Reeeeally unsettling.