top ten

10. They’re scared of their constituents.

It is an election year, after all.

9. Nancy Pelosi did it.

That’s what Conservatives are saying. Are we living in bizarro world? Fiscal conservatives are mad because a BAILOUT bill didn’t pass? These people hate welfare, hate regulation, and hate spending government money willy-nilly. Meanwhile, Democrats are fighting against a WELFARE bill. Guess they’re prejudice against rich people. Surprise, surprise.

As Henry Paulson tries to make his case in front of Congress, we were wondering what exactly he’ll do with the bailout money he’s asking for.

His original plan called for no oversight, and we all know his time as Treasury Secretary is running out. Neither candidate could possibly keep him on when they take over office, so this bailout plan is pretty much his last hurrah. Is there a way for him to spend the money before he leaves? The “we have to do this now” vibe of the 700 bajillion dollar request was a good start, but what’s Paulson going to do when he gets the money?

Here are our thoughts, Henry.

Alright…so the market’s shaky. Warren Buffet’s 5 billion dollar investment in Goldman Sachs boosted things today, but who know what will happen tomorrow?

Warren Buffet clearly sees opportunity here. Goldman Sachs is a commercial bank now, and he knows it’s good to buy when there’s “blood in the streets.”

Meanwhile, the FBI is investigating some old giants (Fannie, Freddie, Lehman, and AIG), Bernanke and Paulson are striking out in the Senate, and the US dollar is tanking. Yikes.