So do you guys think they have an alternate bailout proposal...

[arenar]

waiting in the wings and will credit McCain with helping it become reality?

[Eric J in MN]

1. "McCain Proposes Additions to Bailout Plan"

Yesterday:
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http://www.cbsnews.com/blogs/2008/09/23/politics/fromtheroad/entry4472996.shtml

(FREELAND, MICH.) – John McCain outlined five provisions that he wanted to see added to the federal government’s bailout plan today, but stopped short of saying he would vote against the legislation if his provisions are not adopted.

“We have got to get it right this time,” McCain said of the proposed $700 billon plan to calm the financial turmoil. “I'm confident that these principles will be made part of the legislation.”

Greater accountability, oversight, and transparency, as well as a ban on earmarks and “golden parachutes” for CEO’s are the five provisions McCain wants to see added to the plan. But he also wanted to make sure no additional spending was added to the bill, including another stimulus package.
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[JDPriestly]

4. Obama got there first. The Republicans will not support a

plan if there is a stimulus component. But then, a lot of Democrats won't support it unless there is. So, that's where the stalemate is.

Everybody agrees on greater accountability, oversight and transparency. Republicans won't support the ban on earmarks. The golden parachutes thing is for public consumption. The public insists on it, but it will probably be watered down -- a "compromise" between voters' support of it and the lobbyists' rejection of it. So that leaves the stimulus which Republicans will reject. The stimulus package might be enacted separately because a lot of Democrats will not support the bill unless the stimulus is there. If the Republicans and Blue Dogs pass the bill without the stimulus, then both Obama and McCain will be on board, but the American people will not be with them. The Republican rank and file will say they don't want the stimulus, but will be miserable if it is not enacted.

[SlipperySlope]

2. While my opponent was jacking himself off at the "debate", I was saving the free world - AGAIN!

I can see it now.

[4 t 4]

3. Ok I know this is really crazy, but...

i saw someone email CNN and they wrote, "there are roughly 305 million people in the us. Forget the bail out give everyone a million dollars and watch the economy boom. Whats wrong with this idea other than they would never do it ? It kinda makes sense no ? What am I missing ?

[SlipperySlope]

5. Deflation

Central bankers are terrified of deflation. We all understand what inflation, how people behave during inflation, and generally what to do about inflation. But deflation is another story. Deflation is when the money supply shrinks, and once severe deflation takes hold it can start a spiral there is no easy way out of. The Great Depression was started by a deflationary period.

Think of deflation as being the destruction of money.

Also, understand that under our monetary system, money is debt.

So, if someone loaned out $500,000 for a mortgage on a house, and now that house is only worth $200,000, then $300,000 of that money (that debt) has been destroyed.

Another way debt can be destroyed is by paying off a loan. Believe it or not, paying of your debt takes money out of the system.

So, why won't they just take $700B and send it directly to the taxpayer? Because they are deeply afraid that people will just pay off their debts, which causes money to be destroyed, which is even more deflationary.

Besides - even if you don't believe the economics behind it all, the point of this plan is for the government to take $700B in taxpayer money and give it to the rich. How the hell would that work if they sent it to us instead?