One the proposals -- favored by House Republicans -- would relax regulation and temporarily get rid of certain taxes in order to lure private industry into the market for these distressed assets.
Wait a second. John Sidney McCain III, who has been pilloried over the past two weeks for being an architect (or at least an enabler) of the massive deregulation that has gotten us into this mess, and seen his popularity and poll numbers plummet as a result, goes to Washington D.C. "to save the bailout plan" and proposes more deregulation?
The Chewbacca Defense looks like the Allegory of the Cave compared to this insanity.
If John McCain is a Wookie, you must spend $700 billion.