Congress and the Bailout Plan: Business As Usual

TIME Magazine on the future of Treasury's proposed $700 billion loan bailout for Wall Street:

"Not everyone will go along. A bloc on the far right of the Republican party will say no because they are philosophically against it (and because they are from securely red districts or states); Kentucky Senator Jim Bunning, using his typically heightened rhetoric, went so far as to call the proposal 'un-American.' And a group on the left will oppose it because they see it as a bailout for Wall Street executives (and because they're from securely blue districts or states). But it seems clear that Paulson and Bernanke managed to hit the mark with their three pages. And even if dozens more are eventually added to sweeten the pot for important constituents with powerful lobbyists, the core of the project will remain the same. That's what members of Congress do, even if, as the GOP staffer says, 'Not a single goddamn one of them could explain what's in the thing.'"

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