Farleft is being very wise to search for different opinions on a very serious matter in order to better educate himself. Obama plans are dictated by the principal architects of this mess and anyone with half a brain should be very, very scared! I'm dedicating to you 2 of my favorite Montaigne quotes, hoping you might just learn something instead of lashing out when you are contradicted:

"When someone opposes me, he arouses my attention, not my anger. I go to meet a man who contradicts me, who instructs me. The cause of truth should be the common cause for both."

and this one is sealed with a kiss: "Nothing is so firmly believed as that which we least know."

In that vain, farleft, I want to thank you for posting a dissenting opinion. You might enjoy the following excerpt from an article from www.counterpunch.com (not exactly a bastion of conservatism):

 Weekend Edition
January 30 / February 1, 2009

It Won't Save the Economy; It May Make the Crisis Worse
Obama's New Bank Giveaway
By MICHAEL HUDSON

First, here's the silhouette of the giveaway, as outlined Thursday in the New York Times:

"Treasury Secretary Timothy F. Geithner said Wednesday the administration is working on a comprehensive plan to "repair the financial system." ... bank stocks surged on hopes the government was moving toward creating a "bad bank" to purge toxic assets from balance sheets that are rapidly deteriorating as the economy worsens... administration officials believe that trillions of dollars more may be needed to buy the majority of bad assets from banks. ...

"The concept of a bad bank has gained momentum in the financial industry as the economy deteriorates, slashing the value of risky assets on banks' books and increasing the need for banks to hold capital against those losses. Shares in Citigroup and Bank of America, which both recently received a second taxpayer lifeline, surged 19 percent and 14 percent respectively as the stock market rose on optimism that the administration would relieve banks of money-losing assets."

"Geithner Says Plan for Banks Is in the Works", By Stephen Labaton and Edmund L. Andrews, The New York Times, January 29, 2009.

After (1) threatening for eight years that the prospect of a trillion-dollar deficit spread over a generation or so is sufficient reason to stiff Social Security recipients and abolish debts to the nation's retirees, and (2) after the Bush administration provided $8 trillion over the past three months in cash-for-trash swaps of good Treasury bonds for Wall Street junk derivatives, the Obama Administration is now speaking of (3) some $2 to $4 trillion more to be given in just the next week or so.

Not a single Republican Congressman went along, just as Rep. Boehmer refused to support the Bush bailout on that fatal Friday when Mr. McCain and Mr. Obama debated each other over marginal issues not touching on the giveaway, which both candidates passionately supported. The Party of Wealth sees the political handwriting on the wall, for which the Party of Labor seems happy to take all responsibility. This probably is the only place where I'd like to see "bipartisanship." Watch the campaign contributions flow for an index of how well this will pay off for the Democrats!

How many families would like a "give-back" on every bad investment they've ever made? It's like a parent coming to a child who has just broken a toy, saying "That's all right. We'll just go out and buy you a new one." This from the apostles of "responsibility" for poverty, for mortgage debtors owing more than they can afford to pay, for people who get sick and can't afford medical care, and for states and cities now left high and dry by the fiscal wipe-out that the Bush-Obama "cleanup" has foisted onto the economy. No do-over for anyone but the hundred or so billionaires who have just been endowed with enough free money to become America's ruling elite for the rest of the 21st century.

After spending a lifetime denouncing socialism as inherently unfair, Wall Street is now doing a hideous parody - as if "socialism for the rich" were not an oxymoron in the first place. Certainly the banks are not being "nationalized." Giving away the largest sum of spendable securities in history without direct managerial power that goes with ownership is not "nationalization." Ask Lenin.

Now that the details of the new, larger but definitely not improved bank giveaway of between $2 and $4 trillion more have been leaked out in time for Wall Street's Davos attendees to celebrate, we may ask whether, financially speaking, the Obama Administration should best be thought of as Bush-3 - or indeed, whether it is still on a pro-creditor trend that may better be traced as Clinton-5, or perhaps even Reagan-8. Since 1980 the financial sector has made a sustained money grab at the expense of labor and "taxpayers." More accurately, it has been a debt grab, on the opposite side of the balance sheet from assets.

Backed by Larry Summers, Boris Yeltsin's Harvard Boys transferred trillions of dollars of Russian mineral wealth and public enterprises into the hands of kleptocrats. That was an asset transfer, pure and simple. In 1997, to be sure, the IMF gave Russia a loan that immediately disappeared into the kleptocrats' bank accounts, to be paid out of subsequent oil-export proceeds. But assets were the name of the game. Today's U.S. giveaway has a new twist. The analogy is the "watered stocks" and bonds of yesteryear that railroad magnates and Wall Street emperors of finance gave themselves and their political mouthpieces, simply adding the interest coupons and dividends onto the prices charged the public as if they were real "costs." Today's version - "watered Treasury bonds" - are being created on the public sector's balance sheet. "Taxpayers" must pay bear the interest charges - leaving less for the infrastructure investment that Mr. Obama suggests we may need.

lots more to read......

so you attack me and Josh Marshall. You've been busted.