Reuters:

After allocating $20 billion to a Federal Reserve consumer lending facility announced on Tuesday, the Treasury has just $20 billion to spend before it must return to Congress for permission to access a second $350 billion in the program.

So, maybe it's time for a midcourse correction. Let's review. They're using our money, taxpayer money. How have things worked out so far? Any lessons learned?

How About We Take Health Care Off Their Books?

Whether it is an aging manufactuer, struggling entrepreneur, or small business, health care costs represent a crushing burden. Conyers' Medicare for All would free up millions of dollars for invesntment and save our country $350 BILLION a year.

Atrios has come out for this, Fire Dog Lake has come out for this, who will be the next high traffic blogger to embrace HR 676?

Demonstrate at the White House Nov. 14 & 15 to say:
Money to Meet People's Needs, Not Bankers' Greed

The ANSWER Coalition, VoteNoBailout.org, ImpeachBush.org and scores of other organizations are mobilizing for demonstrations on Friday night, November 14, and Saturday, November 15, when the Bush administration will be hosting heads of state from around the world, bankers, and the heads of the International Monetary Fund, World Bank and other international institutions to coordinate the ongoing transfer of money from working families into the pockets of the richest bankers.

Investment News

The $700,000 billion financial services industry bailout plan has a critic in Federal Deposit Insurance Corp. chairwoman Sheila Bair, who said yesterday the initiative does not do enough to prevent Americans from losing their homes, The Wall Street Journal reported today.

At some point Versailles will work out that the well being of the big shots is connected to the well being of the little guys.

I've been wondering why I haven't seen much about trying to alleviate the failing financial markets from the consumer end.

The Boston Globe had an article with a somewhat hopeful-sounding title today:

Fannie, Freddie Collapse Could Help Borrowers.

Treasury Secretary Henry Paulson and James Lockhart, director of the Federal Housing Finance Agency "actively looking" at expanding loan modifications among the more than $5 trillion in loans that Fannie and Freddie own or guarantee, Bair said.