"Senator Christopher J. Dodd, Democrat of Connecticut and chairman of the panel, called the Treasury proposal "stunning and unprecedented in its scope and lack of detail."

"Asserting that the plan would allow Mr. Paulson to act with "absolute impunity," Senator Dodd said, "After reading this proposal, I can only conclude that it is not only our economy that is at risk, Mr. Secretary, but our Constitution, as well.'

Ain't that the truth considering this consistent defiance of the Constitution by this criminal regime. 

The article states: "Mr. Paulson said in response to questions that he shared the senators' exasperation. "I'm not only concerned, I'm angry" over the events that led to the problem, Mr. Paulson said. He blamed an outdated regulatory system for the turmoil and, in an effort to counter any impression that the proposed rescue plan is for the benefit of fat-cat Wall Streeters, said: "This is all about the taxpayers. That is all we are about."

What a lying sack of cow pies, Hank. 

You are part of a crooked, corrupt administration that deregulated everything it could and then some.  These were not outdated regulations but no regulations.  What should return are all the New Deal banking and investment regulations, even stronger.  This was caused by the greed and fraudulent practices of institutions like your former stomping grounds, Goldman-Sachs, with help from you and the rest of the stinking Bush regime's hands off, no regulations policies.

And goes on: "None of the senators disputed the grim possibilities if Congress should do nothing, but it was clear that they are hearing from their angry constituents..."

This financial disaster is the result of the policies and actions of a criminal Republican adminisration, supported by Republicans in Congress, and greedy Republicans and their corporate fraudulent activities in banking and on Wall Street.

As the Times continues: "Republicans are eager to include legislation that would protect mortgage holders, cut the salaries of executives at Wall Street firms and prevent a breakdown of the financial system.

That is not enough.  There must be real reform, 21st century New Deal reform, now