I don't contribute very often anymore, as I don't want to engage in a discussion if folks have their minds made up. I saw this happen early on the bailout, and have stayed on the sidelines. But as a student of the Congress, and someone who taught for many years the inner workings of both the House and senate, I am appalled to watch progressives cheerlead for the failure of a bill that was, under the circumstances, the best bad temporary fix we could get to forestall the economic meltdown which has just begun. Progressives can't afford to be extremists who continually make the perfect the enemy of the good, or even the partly good, or even the mostly bad but necessary bitter pill. That's always been the job of the wingnut right.
The standard fallacy of holding out for the perfect solution (making the perfect the enemy of the good) is the home base for extremists. The right wing nutcase from Michigan who was shown on CNN spouting off about the Russian Revolution and the choice between freedom and bread was a perfect example of the breed. That's why I don't run away, but embrace, the label of centrist. The US Congress only works when there is a centrist leadership that can bring compromise about in a political system that has increasingly rewarded (via congressional redistricting)politicians who cater to the very far ends of their base.
All of the early major flaws of the 3-page Paulson "outline" were dealt with in a week of extremely hard-fought compromises and deal-making. What remained was not perfect, but would have been good enough to keep gas in the engine of the economy until we got a new president.
The idea that Orange to Blue candidates are applauded here for being against the bailout is,I think, profoundly irresponsible. Any progressive forces that were put in service of stopping this bill were profoundly mistaken, in my view. Cheap populist grandstanding has never resulted in legislation under these circumstances, when the pill is bitter but necessary to prevent worse evils. This was a lesser of two evils problem, and by rejecting the bailout as being "not progressive enough", folks like Udall can get applause from all too many on Daily Kos. But I agree with the previous diarist today who implored you all to get your opinions on the economy from people who actually understand the economy.