"Even as talks got underway, there were signs of how very much in flux the plan remained. The administration was suggesting it might adjust its proposal, to purchase assets from financial institutions based in the United States, to enable foreign firms with United States affiliates to make use of it as well.

"The ambitious effort to transfer the bad debts of Wall Street, at least temporarily, into the obligations of American taxpayers, was first put forward by the administration late last week, after a series of bold interventions on behalf of ailing private firms seemed unlikely to prevent a crash of world financial markets.

"Mr. Bush also sought to portray the plan as benefiting every American. "The government needed to send a clear signal that we understood the instability could ripple throughout and affect the working people and the average family, and we weren't going to let that happen."

"Key Democratic lawmakers have made clear that they want to include in the legislation at least some assurance that the administration would use its new role, as the owner of large amounts of mortgage debt, to move aggressively to help hundreds of thousands of troubled borrowers at risk of foreclosure.

"Mr. Frank said Democrats were particularly intent on limiting the huge pay packages for corporate executives whose firms seek aid under the new plan ”raising the prospect of a contentious battle with the White House.

" 'There are going to be federal tax dollars buying up some of the bad paper,' Mr. Frank said. 'They should accept some compensation guidelines, particularly to get rid of the perverse incentives where it's ˜heads I win, tails I break even.'

As for the compensation for these greedy, jump in the fraud pool, corporate "criminal" SOB executives, here's a suggestion: Fire, without pay, every one of them who had anything to do with involving their company or institution in this high risk, fraudulent, gambling with other people's money (like retirment funds) debacle.  Those who are to be kept on board for some reason must work for minimum wage until the mess is cleaned up.  Let's bring an end to golden parachutes and pay rewards for avaricious, criminal behavior.

And true to the philosophy of the Republican Party and the Bush regime, here's the unsurprising paragraph in the Times article:

" 'This is a good foundation of a plan that can stabilize markets quickly,' Mr. Schumer said in a statement. 'But it includes no visible protection for taxpayers or homeowners. We look forward to talking to Treasury to see what, if anything, they have in mind in these two areas.'

Republican business as usual, government of, by and for the wealthy and corporations; everyone else you're on your own, however, American taxpayers, you must foot the $700 billion bill plus the ones for Fannie and Freddi and Bear Stearns for the greed and crimes of the wealthy bank, financial, and Wall Street executive perpetrators of this disaster who, of course, deserve and must be paid their millions in compensation packages. 

That's what the Republicans mean by bipartisanship and the Democrats always fall for it.  If Dems cave to this, it's at the peril of the seats in Congress.

Democrats better put an end to the Orwellian Alice in Wonderland mad house the Republican have created, starting now.