I’ll readily admit I don’t really know what to make of the bailout situation. I’m no economic intellectual, but my gut tells me $700 billion is a lot of money (5% of our entire economy), and I can’t help but wonder if that money couldn’t be used to better serve the interests of Americans not working on Wall Street. Plus, and call it acid reflux, but nothing ever seems right when this administration decrys how desperate the situation is and how immediately there needs to be a remedy.
As always, Dennis Kucinich gives a reasoned voice:

“Is this the United States Congress or the board of directors of Goldman Sachs?” Kucinich asked today. “Why aren’t we helping homeowners directly with their debt burden? Why aren’t we helping American families faced with bankruptcy. Why aren’t we reducing debt for Main Street instead of Wall Street? Isn’t it time for fundamental change in our debt-based monetary system, so we can free ourselves from the manipulation of the Federal Reserve and the banks?”

Kucinich attended a meeting of the “Skeptics Caucus,” organized by Rep. Brad Sherman (D-CA) and consisting of House Democrats skeptical of the bailout effort. The meeting’s speakers included economic professor James Galbraith of the University of Texas and former FDIC chairman William Isaac. Sherman called the legislation a Bush administration “power grab” and a handout to Wall Street. “This is greatest shift of power to the imperial presidency and the greatest shift of wealth to a still wealthy Wall Street that anyone could imagine,” Sherman said.

“They rushed this Congress into the Iraq resolution and look what happened,” he added, comparing the rushed tone behind the bailout effort with the push to invade Iraq, “Catastrophe for this nation as well as for the people of Iraq.”