CHICKEN LITTLE RIDES AGAIN ...

Fed Chair Ben S. Bernanke is urging Congress to grant the U.S. Treasury Secretary Henry Paulson Czar-like authority to do what he wants with $700 billion of taxpayer money. This includes purchasing financial toxic waste at more than generous levels. Here's Paulson on the dangers we face:

"I believe if the credit markets are not functioning, that jobs will be lost, the unemployment rate will rise, more houses will be foreclosed upon, GDP will contract, that the economy will just not be able to recover ..."

If Congress doesn't play along both Bernanke and Paulson say the financial sky will fall.

Guess what? I'm more concerned with this happening again. Unless Congress addresses how debt & deregulation feed stupidity and greed, Paulson's bailout proposal only postpones what's happening into the next administration.

Bailout - and Bailout Now - is not the solution. I say fix this, and fix it now.

- Mark