We expect the bailout to become law, as the Senate is voting Wednesday night and the House will vote in a few days.
Both McCain and Obama support the bailout, but millions of Americans do not support it, and their opinions should be respected.
However, the feds will likely intervene to save the financial system, and then we'll see what we can do to hold greedy business people and corrupt politicians responsible. "The Factor" will devote a lot of time to doing that, rest assured.
Now Wednesday, far-left finance guy George Soros wrote in the Financial Times that the government should actually buy into some banks and investment firms. That, of course, is the socialistic view Soros promotes and many Americans fear.
At this point, the feds will acquire some bad investments from private businesses, but not run any private enterprise. What I don't understand is why Soros doesn't invest in Cuba if he likes that system so much.
Some Americans are also concerned that the bailout gives money to far-left groups like ACORN, the Association of Community Organizations for Reform Now. The bailout gives no money to ACORN. None. And if somebody tells you that the bailout does give money to ACORN, they are misinformed. And misinformation is a hallmark of the bitter debate over the bailout.
"Talking Points" will be very happy when the deal is done and the bad guys begin to be punished. That's the key: stabilize the markets, identify the corrupt people who have hurt us.
Now, the vice presidential debate. Huge night for Sarah Palin Thursday. She must perform well to reignite the McCain campaign. The bailout mess has hurt McCain in the polls, and Barack Obama is now ahead in all of them. If Governor Palin can score Thursday, she can swing momentum. If she doesn't, Senator Obama will be in great shape. So there's major pressure on the governor.
The moderator of the debate, PBS anchor Gwen Ifill, has written what some say is a pro-Obama book. Now I wanted to talk with Ms. Ifill about it, so we called her up. She refused to take my call.
This is not good, ladies and gentlemen. It looks like Ms. Ifill could have a rooting interest here. Thus, she should step aside as moderator. Journalistic ethics demand it. Maybe we can get PBS guy Bill Moyers to take her place. Wait, that might not be good. Is there anyone at PBS not in the liberal camp? Elmo?
Whatever happens in the debate though, Sarah Palin will continue to get hammered in the media. The Dan Quayling of the governor is well underway. But here you'll get incisive and fair analysis of the debate and what is going to be a very important couple of days for the country.
And that's "The Memo."
Pinheads & Patriots
Our pal Billy Joel, a Levittown guy by way of Hicksville, is making sure a Long Island fisherman gets a decent burial. Edwin Flores drowned near Oyster Bay and Mr. Joel is providing some of the funeral money, so he is a compassionate patriot.
On the pinhead front, I've been telling you for months how corrupt the General Electric corporation is, and Wednesday the bottom fell out.
As Deutsche Bank and others are warning investors, the company is in chaos. So far this year the stock is down nearly 40 percent because CEO Jeffrey Immelt has ruined this once-fine company.
To the rescue, Warren Buffet, who is spending billions on GE preferred stock because it is now so cheap. That action might prop up Immelt for a while, but there's no doubt he is a pinhead. How he keeps his job is one of the great mysteries of the universe.