as you may have heard Paul Krugman mention on Olbermann:

"certain wooden arrows designed for use by children" are exempt from excise tax. (pg. 263, Sec. 503)

no bill is too important that it can't take a little pork.

TPM referenced Open Secrets re: the amount of $$ received from banking/finance and the correlation to the House aye votes (among Dems). I know you think it needs doin', Bob, but isn't it f%^&* the way it gets done?

Jane,

I think it's totally fucked. Check out this from page 28:

"loan, modifications made under para25
graph (1) may include—
1 (A) reduction in interest rates;
2 (B) reduction of loan principal; and
3 (C) other similar modifications. "

That big elephant in the room is the word "may". Not "shall", but may.

In order words, there's nothing to stop whomever from ignoring assistance to homeowners. This is not a rescue.

I know this is a bad scene and I'm not really reflecting the concensus of the room, but it's a little personal for me as a small business owner. My studio ALWAYS takes a crippling hit during economic downturns. And I'm definitely feeling this one.

page 302: As it relates to the Exxon Valdez:
(1) any qualified taxpayer who receives any
2 qualified settlement income in any taxable year shall
3 be treated as engaged in a fishing business (deter4
mined without regard to the commercial nature of
5 the business), and

Is this for Todd Palin?

I'm sorry for your business suffering, Bob, you're very talented. I just wish one of these 535 could be a bit more economically inclined, that donations didn't play into it, that the $700 billion (850 billion?) could have been taken in tiny increments, that other legislation such as regulation/CEO salary caps/FDIC levels could have been handled separately. Sure it's the nature of the beast, but what an example of a...clusterdouche?

FrictionSoul,

"It depends on what your definition of "is" is.

Excuse my ignorance, but I thought bills that had to do with revenue had to originate in the House?

They attached this to an existing spending bill. It's a rarely used trick - aka: A Jam.

Required reading for all:

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/01/AR2008100103110.html?sid=ST2008100200057&s_pos=

An excellent analysis of the commonly heard options for how to best implement the bailout. You'll learn something.

That article stands in direct contrast to Stiglitz's interview on DN!

http://www.democracynow.org/2008/10/2/nobel_laureate_joseph_stiglitz_bailout_wall

Bob I'm part of the Nose Holding Brigade (as someone said on MSNBC last night--forgot who, sorry). I REALLY hate the idea of it but I think a lot of innocent people will go belly up financially if it doesn't pass--some family members among them.

I even like some of pork on the surface (especially the Mental Health Parity and enhanced charitable deductions for contributions of food sounds like a winner), but what the fuck is a wool modification? And a racing facility? Jaysus, some of this stuff stinks. Why do children even need wooden arrows (or is this code for sneaking something else in?)