The bailouts--both for the financial industry and homeowners, are proving to be ill-thought out and already are being mis-used in some cases, by the banking industry.

For instance, banks--who have gotten BILLIONS in emergency loans, are mis-using millions of those dollars earmarked to ease their financial situation--on huge pay bonuses for top executives.

The excuse for this mis-appropration of funds, is that the banks want to retain top people--well, sorry. I should think wanting to blinking keep your nice, cushy job during a financial meltdown and recession, would be incentive enough, wouldn't you? I mean, what kind of dense schmuck would up and say, "hey, I don't like getting my millions of dollars in salary, I think I'll quit and risk losing my cars, home and possessions." Anyone really think these exec's are going to bail during a recession? Anyone at all? Apparently, the morons that run our banking systems, do. Scary thought, ey?

Also, as I predicted I might add, the head of the Federal Reserve--who was given carte blanche to do as he wished with TWO TRILLION DOLLARS in public funds, without ANY oversight by anyone at all---has absolutely REFUSED to reveal which banks received public bailout loans.

And, the governemt SECRETLY changed the tax code--without consulting any of us or telling congress or the public about it---to provide a tax break for banks....this while congress was still in debate over whether to approve the bailout package.

As for the mortgage bailouts--these will help only, at best, 400,000 homeowners, leaving millions more out of luck. Why? Because the mortgage bailout mostly will only assist borrowers who have a 1 owner loan...leaving other homeowners, whose loans were re-packaged into pieces and sold to maily overseas buyers, out in the cold. This is because any one investor...and some loans have many owners (investors) tied into them, can block the incentive package. In other words, if a homeowners loan is owned by multiple investors, every single last one of those investors would have to okay the the rate reduction or payment extension....and tracking down foreign investors can be virtually impossible.

Democrats are calling for a fix, but it still remains in President Bush's hands, whether this extra help will be forthcoming.