Keeping People In Their Homes, Continued

$1 trillion bailout.  Government takeover off some of the largest companies in America.  Warnings of more bad news to come. 

It is critical that as part of this emerging financial bailout package, our Congress ensures that Americans facing foreclosure are also bailed out and allowed to stay in their homes.  This is not only the right thing to do, but as Rob Shapiro argued earlier this week, it is one of the best ways to stop the carnage on Wall Street.

Update, Sat 7:15am - Joe Nocera of the New York Times takes a hard look at the emerging financial bailout plan, and doesn't find much to like. 

After the fiscal mismanagement of the Bush era, are the American people really being asked to spend a trillion dollars bailing out failed financial institutions controlled by very rich people?  Will this rush to bailout prevent the next Administration from making critical investments needed to advance the national interest - in traditional and clean infrastructure, in our schools and teachers, in the skills of our workers, in health care, in reforming our immigration system, in securing our homeland? Will the next era of American politics be one of cleaning up the two great messes of the Bush age - Iraq and our financial and fiscal disasters? And not about embracing a new era of investment, of opportunity and 21st century prosperity? Of dreams deferred and sights lowered?  

The failure of conservative government in the Bush-DeLay-Abramoff era has been so epic, so profound and so terribly costly to the national interest and the American people themselves.  Bush and his team have been very much like a political hurricane, leaving behind unimaginable wreckage in their wake.  Perhaps it will be Katrina that becomes the symbol of this failed conservative era, the image that will be evoked in our collective minds eye for generations to come.