Hi Ian. I attempt to describe my contempt over here.

This is ridiculous. With the bailout (which, by the way, I think IS necessary), the treasury should obviously gain the right to seat board members and dismiss existing managers. CEOs that try to bar their boards from participating should be dismissed, and if their boards refuse to move, they should be dismissed as well. I don’t se what the problem is. Poison bills are meant to discourage dawn raids and their M&A moves between private companies. They are not intended to stop regulatory action, and any treasury secretary who thinks that they should be allowed to serve such a person is beyond incompetent.

Poison pills I mean

I guess the war was worse than this but I don’t know if I was any angrier. This really needs total publicity. How do we do it?

I meant such a purpose, not such a person in #2

this is reminding me so much of the PATRIOT Act. This is an emergency. we need to all come together, can’t play politics with this. yeah, the bill blows, but we can always fix it later.”

really. the gov’t is driving here. good place or dems to make a very basic point about gov’t being something that can be used for good.

The bailout ignores so much like the impact on tax collections, especially in our older cities. Let them block the bailout. It’s way past time for this system to call it a day.

This has been part of their plan for decades. I just wonder what the NSA has on the Dems. You know all of us are being watched.:) Now as far as this whole thing goes, I think this is all about the Social Security, They want to dismantle it. And when the elections come, unless we vote in great numbers, it’s a republican win, John McCain will win and stay in office one month and Sarah Palin will take over with over site. Does this all sound familiar? Unless of course we have another crisis and Bush claims Marshal Law and takes over everything. He has a pretty goood start doesn’t he?

Ian, what’s the simplest way to name who gets the trillion dollars, or the rake anyway?

I think it would be better if we did not rescue Wall Street, let it hit the fan and perhaps something better will rise from the ashes. Couldn’t be worse.

“Paulson saying that Republicans will stop any bill that reigns in executive compensation in exchange for a bailout.” So, in other words, what Paulson is saying is that the Rethugs would rather that the country and (then, by extension)the world economies would go in the tank rather than have to tell their buddies at the banks to ’share the pain’ with the rest of us? Is that it? Holding the rest of the world hostage to these greedy bastards so that they get their overblown bonuses(and, by extension, then perhaps the Rethugs will get safe havens later because they helped their buddies?)? THAT is totally unacceptable. We need some major players like Warren Buffet to step up and tell these buggers that they’ve got to be patriots and share the pain with the rest of us.

The Dems should realize by now (patriot act, etc.) when they’re being stampeded. Krugman got it right: No Deal.

When you say “let it hit the fan,” I think that there is no way to know what the economic damage will be. I’m not saying Dems should cave, just that our economy cannot function without viable credit markets. And there is every reason to fear that Bush has ruined the credit markets unless something is done.

but to go back to ian’s prior post, what about obama? he can’t just stay in “no comment” land. that this is “above politics” and all that happy horseshit. the next president is gonna inherit this. we’re entitled to know what he’s gonna do.

“Hank says it’s a poison pill,” Frank said.

So Barney said “Hank, it’s that, or no deal”.

Right?

That’s the BushCo way. Propose something, say, “I’ve got to have exactly what I want,” and wait for the Dems to cave. He does it because it works.

“Paulson saying that Republicans will stop any bill that reigns in executive compensation in exchange for a bailout.”

Great!! For God’s sake, make them do it. Make them block the bailout over golden parachutes. They’ll be lucky to get anyone elected to congress if they do that.

Bring ‘em on!

Republicans will stop any bill that reigns in executive compensation

Ian, should be “reins” in [as in “applies the reins to”]. Although these folks “reign” supreme in audacity.

This jeopardizes his entire agenda.

Call or fax your Congressman and tell them not to pass this bill.

you bet i will. i’d like to see some voice mail messages left for them.,… and obama’s campaign is first on my list – because there’s no way the Ds in congress would not do exactly what he tells them to do.

p.s. ian – love your post earlier today, sorry i missed it. fucking brilliant – is obama fdr’s heir? or bush’s? it’s up to obama to rejects bush’s legacy with his actions as well as with his words.

i hope Congressman Frank, as well as other democrats in leadership positions, find a way to LEAD.

allowing multi-million dollar payouts to the top executives of these financial institutions is untenable.

making decisions based on maintaining solvency of our countries financial market is one thing; adding to the coffers of those most involved in leading us to this brink of distaster is quite another issue.

Because there’s no way the Ds in congress would not do exactly what he tells them to do.

Are you serious?

i agree … “Present” will not work in these circumstances.

Here is the ‘poison pill’.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Please. Tell me that there is a single person here, lawyer or non-lawyer, that thinks that this provision could *ever* be found to be constitutional….

That takes the prize for the most ludicrous provision to ever, in apparent seriousness, be forwarded for Congress’s approval, imo.

But…but…but if Wall Streeter executives and high so management ranks are not properly rewarded this very talented,knowledgeable strata will not work on Wall Street.

Wall Streeter “talent and skills” surely comes at a premium. Taking away the comp packages,golden exits and parachutes surely will bring about very bad and terrible Wall Street outcomes.

Wait–what just happened on Wall Street with so much “talented and skilled” executive and managerial talent at the helm?

Why should they suffer the consequences from being so talented and skilled?

That’s not fair.

Oh–I see–looting the American taxpayers for $700 billion(oh come on-just call it a trillion $$) is totally fair because you and I are responsible for making sure Wall Street suffers not the consequences of what it did or more on point did not do.

Ain’t it so? Why of course it is.

So– where is my Universal HealthCare Plan? Oh–That is Wicked Socialism.

Bailing out corrupt and bastard Wall Streeters on the taxpayers dime is OK but Single Payer Universal American HealthCare is Wicked Socialism.

I see.

Anyone got some torches and pitchforks?

it’s the homeowners that should be getting some relief – not the fat cats.

I just spotlighted this to a bunch of folks. However, Rachael Maddow is not on the list, and when I’ve tried [over the past week] to send stuff to her at the address provided on the show [rachael@msnbc.com] it always gets bounced back. Anyone out there have a “working” address for her?

yes i am. do you think that pelosi and reid would stand up to obama and tell him they are going to do what the bush administration tell thems to do – and not the leader of their party and hopefully the next president of usa?

rachel is how she spells it.

Slaps self upside of head.

Thanks.

no prob

dodd is chair of the senate banking committee. any idea where his thinking is? i know he’s not bernie sanders when it comes to economics, but we’ve worked with him in the past. is such a thing possible now – or did that depend on matt and time being on his staff?

trys spelling Rachel right.

If it’s a poison pill let Paulson and Bush choke on it.

Do the R’s really think there is a political payoff in defending those who broke everything?

we need ads out that say exactly this.

they’re counting on democrats blinking again before any public resentment can build.

“By the end of next week”

rachel@msnbc.com

I think you have an extra ‘e’ in her name in the address you’re using

My Congressperson is Michele Bachmann. Do you a phone call or fax fromme will change her mind? Don’t you think if Bush wants it, she’ll support this?

the saddest thing is that they are refusing to consider compensation limits, forget about seizing bonuses and payouts already made.

If Obama caves on this, I will stay home in Nov because there won’t be any use in voting. He will have just proved that the repugs don’t have to win to win.

can only read this as Paulson saying that Republicans will stop any bill that reigns in executive compensation

Ian,
Excellent post, thank you.

Nitpicking: Typo. I think you want reins in lieu of reigns.

The CEO’s and executive types are too big to fail.

Who would by the yachts and countless houses that the Republicans all love.

http://www.armytimes.com/news/…..d_090708w/

Army Brigades are now being brought back for ‘homeland tours’.

Dudes… something is up. I don’t want to go off the deep end, but it’s pretty creepy for this to be going down right now.

If you want a gtee’d soft landing, you need to give up your parachute. There aren’t enough to go around. Anything else is, well, cowardly.