WASHINGTON – There is no easy fix.

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I realize this may be a bit long....but the smell of our elected leaders is too strong to let it go......once again they use our tax dollars (those who actually pay taxes) as their own personal piggy bank yo give their friends sweet deals.....

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Treasury Secretary Henry Paulson went to Capitol Hill seeking $700 billion. He got an earful. Now, $700 billion is a serious sum, and Congress has the fiduciary responsibility to make sure the money it appropriates goes for a good cause.

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The Federal Reserve Bank of New York held an emergency meeting Friday night with top Wall Street executives to discuss the future of venerable firm Lehman Brothers Holdings Inc. and the parlous state of U.S. financial markets.

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Bloomberg reports: Americans want Treasury Secretary Henry Paulson to act to stop the dollar's decline, which has stoked the inflation eroding their household incomes.

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Treasury Secretary Henry Paulson proposed the broadest overhaul of U.S. financial regulation since the Great Depression, saying American capitalism needs to be better prepared for ``inevitable market disruptions.''

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Bank Reform: Treasury Secretary Henry Paulson has proposed sweeping new financial reforms that would in many ways be an improvement over the dysfunctional system we now have. But we do have some concerns.

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Markets were further shaken by reports of more losses from the collapse of the mortgage market and the resulting banking crisis. Fannie Mae, the government-chartered mortgage-financing giant, reported a fourth quarter loss of $3.56 billion.

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