Deal

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Apparently done. Apparently bipartisan altho another report I read had some hedging language from a Republican negotiator. Read it and tell us what you think. And done and announced before…

Bailout Nation — Hell No, Mr. Paulson

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As Jason notes below (and in my comment) the scope of this bailout just gets bigger. Now we apparently are going to be on the hook for foreign banks (whose expose to this toxic stuff is worse than many of our own banks) and for the credit card debt your cousin Stewart racked up on vacation in Cabo.

Today, lots of very smart financial heads have been responding to the bailout proposal:
Robert Kuttner; Robert Reich; and Bob Borosage, and Dean Baker (this is a very detailed set of principles to guide the restructuring).