My local station had some news on the deal

[nadinbrzezinski]

and it looks like the housing part of the bill is still part of it

For the most part it looks like what the Banking Committee released yesterday... the working draft

Of course this is still thin on details, but still

[knowledgeispwr]

1. I'm really ready for more details.

I'm probably going to bed soon so I may have to wait until tomorrow.

I'm definitely not ready to go around screaming "we've been screwed" which people seem to be doing w/o any details.

[nadinbrzezinski]

2. They're been doing this for days

some of us have even posted from the working draft, you know things like the moneys spoken off, 250B versus 700B... I am ready to bang head on wall, wait I have been doing that too

Waiting for SNL

Just wanted to report that it still looks ON THE SURFACE, like the Dodd plan

Yes, I want the working draft, that's how much details I want

[scarletwoman]

3. Don't worry. You can count on us being screwed -- it won't be a surprise, just par for the course.

What I don't understand is why anyone would think that we WON'T be screwed by whatever deal the courtiers of Owner Class come up with.

sw

[shraby]

4. If you think you're screwed now, you should

think about how screwed you'd be if they did nothing. It wouldn't be pretty and it would be long lasting.

[scarletwoman]

5. Well, they certainly have YOU convinced, haven't they.

We HAVE to stay in the cage, it's too scary out there. Prop up the system or we'll all be DOOMED.

[shraby]

6. A depression is nothing to wish on anyone.

My father lived through one as did my mother. At one time my father's brothers and sisters had nothing to eat but some sugar. Whether you say they scared me or not is immaterial..I shudder at the thought that many many children will be turned out of their homes and find it difficult to fill their tummies from day to day. There are too many in that situation right now and it's just something we can't take a chance on having occur.

[scarletwoman]

7. My patrents lived through the Depression, too. And I'm not wishing it on ayone.

But a depression is going to come, because our economic system as it is currently configured is NOT sustainable. And throwing more money into a structurally unsound system is not going to help ANYBODY except the people who destroyed our economy in the first place.

It won't return lost jobs, it won't help people keep their homes -- the provision that might have made a difference for people in foreclusure has already been thrown under the bus -- it won't correct our trade imbalance.

It won't do anything but create massive inflation while it props up the financial scammers just a little longer.

sw

[tom_paine]

8. In many ways, I am torn equally between your two points of view.

Because a depression, in all of it's horrors we can't imagine, IS nothing to wish for. Not that you were wishing for it per se. Bad choice of words on my part. But "prognosticating" one, Cassadra-style, is also a bummer for all involved. As it was for Cassandra all those eons ago.

However, as time goes on I tend more to agreeing with you, scarletwoman.

Not that it had to be this way. I am NOT in the camp with the socialists and communists who believe capitalism unworkable. I still believe in regulated FDR Capitalism which has to bend to the environmental and ecological crises that we created. But we also created the "capitalism crisis", which did not have to be.

However, after 25 years straight of neoconservative "friendly fascist" politics, and neoliberal economics that have degenerated into outrightly corrupt third-world-style crony capitalism, it may be the thing is so damaged that we are like an alcoholic spiralling towards rock-bottom and the longer we "hold it together" before the inevitable crash to rock-bottom, the worse said crash is going to BE.

Yes, as time goes on I tend to agree more with you, scarletwoman, though I am still not decided/committed about one side or the other yet.

Which is tragic, because agreeing with you in this case means accepting that catastrophic tragedy is already unavoidable at some point, it's just a question of how soon.

Which it probably is by now.