Barack Obama said yesterday that there should be "no blank check for Wall Street..." in regard to the proposed $700 billion bailout.
"As of now, the Bush Administration has only offered a concept with a staggering price tag, not a plan," he told a crowd estimated at more than 25,000 people. "Even if the U.S. Treasury recovers some or most of its investment over time, this initial outlay of up to $700 billion is sobering. And in return for their support, the American people must be assured that the deal reflects the basic principles of transparency and fairness and reform."I have absolutely no doubt that Wall Street financiers are looking at this nearly three-quarters of a TRILLION(!) dollar bailout as perhaps the last golden opportunity of the Bush administration to steal massive amounts of money from the American taxpayers with no oversight at all.
And the cry of "partisan politics" will erupt from the GOP if lawmakers make ANY attempt whatsoever to protect the taxpayer's investment in America's economic stability.
Over the next several days we're going to see a dramatic test of the Democratic majority Congress's ability to hold the Bush administration's powers in check. If Treasury Secretary Hank Paulson has his way, we'll hand him a $700 million dollar check made out to "CASH".