Is everybody happy? It doesn't appear to be so! At least not on the hill. As congress prepares to recess and with nearly six weeks to the presidential election, there's the making of a non-partisan squabble over President Bush's hastily contrived bailout legislation. I am convinced that assistance from the government is essential. However, the details of the assistance need to be made public. The legislation is still being drafted as suport is being sought, not a good approach. This concern is echoed in MSNBC's article with the subtitle: Anger, Skepticism Among Members of Both Parties May Put Bill in Jeopardy.

Fueling the fires is the appearance of potential impropriety on the part of the beneficiaries of the bailout, namely major corporations and their executives. This supposition is underscored by an article entitled:FBI Probes Companies at Heart of Crisis. For those who were concerned about stones being left unturned and no accountability, it appears as though the day of reckoning is upon the allege perpetrators. The Feds are promising at the very least, an investigation of some 24 companies and their executive staff. This includes some of the forgotten ones like IndyMac right on up to AIG. 

Our very own Jim Crawford has contributed much coverage on this issue, most recently in Bail Out Lies! We Cannot Trust Them-But Judge Them By Their Deeds. Special attention should be given to the Congressional representative from Ohio by the name of Marcy Kaptur, who is also mentioned in a comment made by Jim in his blogpost. Her delivery echoes the sentiments of many on the hill, as well as those on Main Street.

We recognized the importance of providing the much needed support. In return for the piblic financial assistance, we ask for an independent investigation of the companies, their management and the finances. Those who are deemed to be culpable, need to be prosecuted. To preclude a recurrence down the road, major legislation reforming the way business is done on wall street needs to be adopted.