There's still no OVERSIGHT with the new bailout??

WFT is going on with our leader??

The Senate today voted to give Wall Street another $350 billion today. The vote tells us a lot about the new Senate (you can see the full tally here - and remember, on this vote, a "yes" vote was a vote against releasing the $350 billion bailout tranche).

For instance, both Tom and Mark Udall (D-CO), who voted against the bailout in the House when running for the Senate, switched their votes to support the bailout. You may recall that Mark Udall said he was against the bailout not because he didn't trust George Bush, but specifically because he was against voting for a bill that had no oversight measures. And yet now he's voting for the same bailout that includes no new oversight measures. This suggests that the Udalls (like lots of political aristocracy) have absolutely no principles - that, in fact, they are the worst stereotype of politicians: The kind of people who go populist when facing election, and then goes corporatist when he's comfortably insulated in Washington.

http://www.openleft.com/showDiary.do?diaryId=10945

and accountability?

And get lots of ours.

The institutions need to be told to play ball according to the rules we the people place on them or face being nationalized.

no matter who we vote for, the outcome appears to be the same.

The rich get richer and the poor get poorer.

But it's very early in the Obama administration, so I can only hope that my fears are just paranoid delusions.

But I do remember, many years ago, Newt Gingrich replying to a question at a press conference and saying,, "you don't mess with the big boys." At the time Newt was pretty powerful and I wondered who he felt were the big boys. I've always suspected they were the big multinational corporations that probably run this country.

Looks like we are sending another $350 billion dollars into the same dark hole that swallowed up the last $350 billion with little effect. Lack of oversight and regulation got us into our current mess. Obviously the people we elect are either foolish or dance to the strings of a powerful puppet master.

If I take my savings and invest or donate to some enterprise or charity, I expect accountability and transparency. Is that asking too much of our government?

My grandchildren are going to live in poverty if this effort by our government fails. In fact, I may end up impoverished myself. Fortunately, I'm an old fart and may not live to see the true depths of the catastrophe if we screw this recession up and do indeed create a depression.

Experts said the Titanic was unsinkable. Experts also have said we would never have another Great Depression. Stupidity and greed can trump experts.