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? Read more…

Steven Benen has the main points up.

Krugman appears to be at least somewhat impressed.

Chris Bowers at Open Left has the link to the PDF forty page document, plus some analysis that suggests Dodd's version carries some poison pills of it's own that Bush and Paulson will have a hard to impossible time swallowing. To which I say, great, no bailout, then.

A friend tells me that Barney Frank's House version is the better of the two, but I don't have any links on what it contains. Read more…