Actually, it's the SCUMBAG liberals pushing their socialists agenda...again. Sure love the adjectives the dems are using to describe reasonable educated people with a fairly comprehensive understanding of the decipet vomited as fact by the left. But not all of us are sheep following in the Mao tradition.

Obama Now Pushing Sneaky Wall Street Bailout - HUMAN EVENTS

Talk about taking another giant leap in the wrong direction.

Fresh off his successful (for now) effort to ram through an unpopular healthcare ??reform? law, President Barack Obama is now fighting for legislation on Capitol Hill that would set up a permanent fund to bail out companies in the financial sector.

Of course, that??s not how his team is spinning things. On the White House Blog, Jen Psaki claims that ??under the Senate bill, the taxpayers will never be asked to foot the bill for Wall Street??s irresponsibility.? But that??s simply not true.
??If you liked the bailouts in 2008, you??ll love the Dodd bill,? Sen. David Vitter (R.-La.) tells HUMAN EVENTS. ??Congressional Democrats and the Obama Administration want to create a permanent bailout mechanism all while spouting their rhetoric of getting tough on Wall Street, but if you look at who is already lining up to support their ??reform?? measure it??s a who??s who of the big banks that have already received the taxpayer bailout the first time.?

There are two specific problems with the Senate approach to ??reform.?

First, this legislation would create a new $50-billion bailout slush fund controlled by the Federal Deposit Insurance Corporation (FDIC). Very big banks and other ??eligible financial companies? would be taxed by the FDIC to build up this fund. As with any tax, though, it??s consumers--you and me??who would eventually pay this levy.

The Obama Administration this weekend requested that the $50 billion pre-funded bailout money be removed from the bill. But according to Foxnews.com, Treasury Secretary Tim Geithner advocated last year that any bailout funding should be addressed post bailout through a tax on big Wall Street firms. If Senate Democrats only take out the $50 billion slush fund and leave the bailout authority intact, then the taxpayers will still be on the hook for any future bailouts.

Another problem with this bill is that it would bail out the creditors of companies and wouldn??t require any creditor to take a loss after a company starts to fail. If the bailout slush fund is tapped, the FDIC would have the power to reimburse creditors. That could allow the FDIC to pay creditors more than they invested (pursuant to Section 210 of the Dodd bill).

So, besides the TARP bailout funds we alll are going to pay for till we die, which will come soon because we won't be able to afford to survive a cold on Osbamacare, we are going to tax the banks to fill a 50 billion dollar slush fund for failing banks. Then, that fund (which are now tax dollars owned by the people of the United States) will be used to bail-out mismanaged banks and lending houses? How about we let them fail and we'll use the money for defense or border security? Anyone care to bet that the "Bank of Mismanaged Unions" will get the first $50 billion.

The moderates and those on the right just saved your ass. Again.