Well, from the practical point of you there is no much difference between Obama package and George Bush TARP package ($700 Billion) to bailout his wall street friends and satisfied the "right wing coalition". The system is corrupted and has to collapse regardless of who is running the show.

Jurek:

I agree that the sytem is corrupt and has to be rebuilt, the rest however I beg to differ on.Your area of expertise may be finance, mine is history and politics. TARP and the stimulus packages are nothing alike, in fact the only thing they have in common is that they were BOTH designed by the left..YES THE LEFT. It was a Democratic Congress that created TARP, A Democratic Senate ammended TARP to appease a Lame Duck Republican President.

AS for appeasing right wing Wall Street Coalition..FOLLOW ALONG HERE

One of theWall Street Men who created this messs was the President of the Federal reserve Bank of New York, Timothy Geithner. The Democratic Congress comes along and asks this guy to create help TARP or, to solve the problem he helped create. Then Obama comes along, obviously impressed with his work on TARP and names him the Secretary of the Treasury. So where does the right wing coalition fit in.

The consensus is that this financial crisis was created by the home market bubble bursting. The consensus also is that the bubble was created in large part due to the financing of people who normally wouldn't qualify for a mortgage as they couldn't afford it. A demand created by faulty financing led to the bubble. NOW this mess was started when the pet project of Democratic president Jimmy Carter, The Community Reinvestment Act, was passed in 1977. Democratic Presind Bill Clinton vastlty expanded this program by expanding the resources of Fanny Mae and Freddie Mac. In September 2003, Frank, then the ranking Democrat on the Republican-led Financial Services Committee, opposed Bush administration proposals for transferring oversight of Fannie Mae and Freddie Mac by creating an independent agency to supervise. In 2005 McCain again tried to reign in Fannie and Freddie but was stonewalled by the Democratic Majority in the House and Senate.

Sorry,, the Left created and protected this mess, Bush however is not totally without any reponsibility. His deregulation of the financial institutions, a response to the economic turmpoil after 911, allowed these NINJA loans to be bundled and sold.