It seems like the Bush regime crime family would like to escape responsibility for helping cause the financial catastrophe and keep the terrible bailout on track by putting Obama's name on it as co-conspirator to provide cover for the crooked Bushite administration.

 

The Obama administration needs to walk away from that and let the responsibility for this economic catastrophe hang like an albatross around the necks of Hank Paulson and rest of the Bushite crooks, to whom a stupid Congress gave the keys to the vault to dole out taxpayers monies as rewards to their corporate crony perpetrators.  

 

Obama's administration should ditch this disastrous bailout and start from scratch with real refrom, regulation for the entire financial system, stop rewarding the perps and rescue the victims...the America people. 

 

Paul Kiel at ProPublica reports: "We've been hearing for weeks about how the Treasury Department is on the cusp of dramatically widening its current bailout program. First it was insurance companies that were going to get Uncle Sam's help. Next came other financial firms like bond insurers and specialty finance firms. The generous terms of the government’s investment is proving irresistible. But the official announcement on expanding the bailout is still forthcoming. What gives?

"According to background sources whispering to both the New York Times and Washington Post, Hank Paulson's Treasury has put such major moves on hold in order to make sure the incoming administration is on board.

"There seems to be two reasons for this. The first is a practical one. Treasury officials don't want to adopt a policy only to have an Obama administration drop it or take a different direction. As one former Treasury official tells the Post, "The last thing you want to do is start something and have the new guys unravel it in 60 days. It sends mixed messages to the markets." As a Treasury spokeswoman puts it: "Continuity is in the best interests of the markets and the economy."

"But according to the Times, there's also a political angle:

Although the cooperation with the Democratic-controlled Congress is expected to go smoothly, the coordination with the Bush White House is a dicier matter. The Obama camp is feeling pressure from the administration, according to several people familiar with the situation, specifically from Treasury Secretary Henry M. Paulson Jr., to "co-own" the bailout program, which remains unpopular among voters despite a broad consensus that it was essential to avert wider economic collapse.

"Both papers note that Treasury has made room at the department for an Obama transition team, but no one has shown up yet."

The Obama administration should not be ready to make nice but should point fingers and make certain that the Bush regime is made accountable for its deliberately reckless, greed promoting  economic and financial policies that have inflicted such devastating harm on this nation and its people.