Some people are so used to blaming everything on Democrats that they just can’t not blame Democrats.
The fact of the matter is this bill sucked. It basically turned Paulson into the economic King of America, just like the first version. Only it did it on an installment plan and pretended to protect taxpeyers.
But the defeat of this is the begining, not the end. As David Sirota points out at kos, the Democratic Party now needs to go to work to make this bill a vehicle for “the kind of New Deal-style investments and regulations that are necessary to start rebuilding this country.”
Sirota’s basic conditions for any bailout, including a speculators tax, re-regulation, economic stimulus, bankruptcy law reform and aid to homeowners.
He states that no amount of tinkering with Paulson’s atrocity was going do the trick. Now they have to go back and start from scratch.