The intersection of 1st, Pennsylvania and Wall Street

President Bush has asked congress to act now before congress auguries once more to run for re-election. The bailout would be the largest action that the government has taken in the economy since the great depression. The plan was proposed on Saturday and the members in congress have been debating two aspects of it. One concern is simply where this large amount of money is going, democrats are worried about it turning up in the fat cats on wall street and keeping the financial system operating but not touching the many people who are battling the mortgage crisis. The second issue that seams to be in the debate is not constitutional but on the idea of capitalism. This idea despite being of huge importance still appears to be playing 2nd fiddle to anything else. If nothing is done the economy will collapse however some are asking the real questions of if it is governments place to protect banks from bad decisions and if we do will it weaken the economy because a lack of fear of failure on the part of the banks thus requiring more legal restrictions on lenders and further legislating what once was considered untouchable by the fingers. Senator Jim Bunning of Kentucky summed up the debate days prior by stating that, “The free market for all intents and purposes is dead in America.”
If this is true then after congress solves the problems a debate on the decisions and how they apply to our type of government is sourly overdue.