The week should prove to be very interesting, and will give the American people a striking contrast of just what the two major political parties believe in. While the Democrats will be fighting tooth and nail to make sure it’s not just the fat cats that are protected by the bailout, there will be many within the GOP who are ideologically opposed to any bailout. Not to mention the entire concept of regulation of the markets, and if there is one thing repugs hate more than queers and abortions it’s regulation of the markets. I have serious reservations that Bush/McCain are going to be able to hold their troops in check and pass a much needed bailout plan.
Already Senator Obama is demanding that any bailout include helping people stay in their homes and allows for heavy congressional oversight. Something not included in the Paulson plan, and something that may prove difficult for many repugs to swallow.
It’s going to very hard for many, if not most of the GOP members of congress to return to their conservative districts and justify a massive tax payer funded rescue. On one side of the aisle you’re going to have the Democrats fighting for Main Street, on the other side of the aisle you’re going to have Republicans fighting for as little regulation and help as is possible. My bet says the public is going to feel a lot more warmly to the Democratic position then the Republican one.