Lou had two Democrats on his show who wanted to propose an alternative to this hideous 7$$$$$ plan we have been tortured with. Here is an excerpt from his show transcripts (followed by the link). I don't know a whole lot about their plan, but it sure sounded promising compared to the alternative! Here is a portion of the script:\\DOBBS:

This breaking news just in to CNN. The Senate will vote on a massive $700 billion Wall Street bailout tomorrow evening. That vote scheduled, it will come two days after the House of Representatives voted down that Wall Street bailout, sending a powerful message to the Bush administration and the Democratic leadership in Congress, which apparently the Senate leadership now wants to ignore. The House is due to reconsider the bill again Thursday after the Jewish holiday. Again, the Senate will be voting on the Wall Street bailout tomorrow evening.

Meanwhile, a group of House Democrats today proposing an alternative plan to deal with this financial crisis. Announcing a five-point plan, they call this legislation the no-bailout act. The plan calls for government regulators to step in and regulate the markets rather than a taxpayer bailout of Wall Street. Congressman Peter DeFazio of Oregon and Congresswoman Marcy Kaptur of Ohio leading the new effort, and they join us now. Good to have you both here. What will be the cost of the taxpayer of your new plan, congresswoman?

REP. MARCY KAPTUR (D), OHIO: Our plan doesn't cost anything because we oriented toward the market, not the government. And we follow the plan that was used back in the '80s and late '70s for the Resolution Trust Corporation, with all of the troubles back then, 3,000 bank failures, hundreds of agriculture banks, continental Illinois bank failure, inflation at 21 percent. And over 3,000 banks were resolved. Frankly, all the banks in Texas were closed. But at that time, William Isaac, who was chair of the Federal Deposit Insurance Corporation developed a net worth certificate as well as procedures so that $100 billion worth of resolution was accomplished for $1.8 billion out of the insurance fund of the FDIC. [See the link for the rest of the conversation].

http://transcripts.cnn.com/TRANSCRIPTS/ ... dt.01.html