... to assist any Republican anywhere with hara-kiri. And I think most decent Americans feel the same way these days.

...I like Joseph Stiglitz, too. He's called the World Bank out for being pretty much exactly what it is. Props to him for that.

However, your selective quoting doesn't acknowledge that he thinks that this stupid bailout is pretty much a done deal at this point. He's clearly speaking in the past tense:

The alternative model has—is a proven model. It worked in Sweden, Norway. I don’t know why we didn’t do this better model. And there are versions that are short of nationalization. I sometimes refer to this as the Buffett model. He put in money into Goldman Sachs, got back preferred shares and warrants, so he got both protection on the downside and participation on the upside. This would have been so much better for reinvigorating our banks and for protecting American taxpayers.

But hey, selective quoting works both ways (wink, wink):

BRUCE MARKS: The fact of the matter is, this thing should be killed. It should not happen at all. It does nothing, Amy, for the homeowners. And what we have to say to Congress, Amy, is we have to say, “It’s the foreclosures, stupid,” just like Bill Clinton said to the first George Bush, “It’s the economy, stupid.” We have to say to this Congress, “It’s the foreclosures, stupid.”

And they have to do three things: do a moratorium on foreclosures, stop the interest-rate increases, and restructure loans to make them affordable. That’s it, without one dollar of taxpayer money.

AMY GOODMAN: Joseph Stiglitz, what about what Bruce Marks proposes?

JOSEPH STIGLITZ: Well, I mean, he’s clearly right.

Mr. Leonard, you really need to stop it, and you understand exactly what I mean. Calm yourself down. Stop grasping at every straw you can find that shows some sort of "support" for this piece of crap bill just because you personally are living in fear to the point of panic. STOP!

Ok, I get it. You're willing to admit that the bailout bill is a sham, that it proposes to spend $700 billion of the taxpayers' money without doing anything to address the real causes of the crisis, that it's a pathetic travesty being shoved on America by gunpoint - but you support it anyway, because the elected officials bought and paid for by the corporations who stand to gain have engineered a psychological panic which only the magical panacea of the bailout bill can calm (Disaster Capitalism at its finest.) Basically, Bushco is demanding history's largest severance package, and you're willing to go along with it, just to make sure he goes away for good? I for one would rather call the man's bluff than write him one last, fat, outrageous check on his way out the door.

Turn on the television and you will soon see a Wall St. "expert" tell you in somber tones with quivering voice how we are facing a meltdown the likes of which have never been known that will take extraordinary measures to prevent.

Is that so? Well there may be historical precedent to this approaching catastrophe and human plans to avoid it:

The High Priest stands atop the pyramid and proclaims that the Sun God has forsaken our World. The only way to calm the God is for each family to sacrifice a young virgin daughter. It must by done now for darkness approaches!

The people below are roused to outrage and disbelief! They crowd to the village council and voice their refusal. The village council, though fearful of the Sun's disappearance, agrees that the young virgins may live.

The High Priest returns to the top of the pyramid and bellows: "You must and you will!" then turns to the Inner Circle of Elders, who pass judgement in favor of the High Priest.

The Sacrifices begin just in time as the Sun God begins his departure. Blood flows down the ancient stones and the crowd below wails in anguish, fear and loss.

A few minutes later, the Sun God returns to shine upon the pile of lifeless bodies below.

Hurray, some level thinking! Banks don't make money out of nothing, although they would like to. Banks make money on the backs of hard working Americans who pay interest on their loans (and their investment portfolio, which is another matter). When those people can't pay, the banks are in trouble. I'm sure I sound like a broken record, but the banking crisis is not the problem, it's a symptom. The problem is that ordinary Americans are tapped out by high oil prices, high interest rates, and a lackluster economy.

You are exactly right, the bailout is just more trickle down economics.

The best argument for spending the better part of a trillion taxpayer dollars on a solution that may or may not actually work is that "it's better than nothing?!"

How exactly?

Why not go back to the frigging drawing board and craft a bill that actually WILL work? After all, that's what these guys get paid for.

If the Democrats had any actual balls and political acumen (I know, longer odds on that than on this bailout actually solving anything) they'd craft a bill that trickles UP and pass it on a party line vote. Then go to the American people and say look what we did for you (or ya, as Sarah Palin might say)-- real homeowner relief for every Joe Sixpack in trouble which will, coincidentally, fix the whole banking problem. Yeah, it's pricey, but it puts YOU at the front of the line and Goldman Sachs back in the rear where they need to be. We did it because the Republicans refused to and that's what we get paid to do.

Yeah, well, dare to dream.

*By the way, it may not be enough anyway. You should all start being scared for the next scam to wring money from the poor and middle class to ensure the rich don't suffer. The gravy train didn't end here; why should we think the next ploy won't work?

In all seriousness, here's a modest proposal. If I were a Democratic congressman, I would insert a provision to raise income tax rates on the rich to 1950s levels. That's right - top marginal tax rate of 90%. That way we ensure that taxpayers get some money back whether or not this debt turns out to be worth anything. I'd love to see Paulson get an ulcer over that little poison pill.