Bailout? For Whom?

Half of the $700 billion bailout has already disappeared down the black hole of the banks and Wall Street without anyone being able to explain where it went. Treasury Secretary Paulson asked congress to release the second half of the money this past Friday, again without any oversight.

Congress struggled with demands for all sorts of oversight on a nickel's worth of that amount of money to help out the auto industry, with tens of thousands of jobs at stake, but no one seems to be questioning where all of this far larger some of money is going for the banks and Wall Street.

In the meantime, some economists are forecasting job losses as high as 4 million. The country could be facing an unemployment rate of 10 percent by the end of Obama's first year in office.

The Obama team is preparing a $775 billion stimulus package to begin as soon as he takes office, and that money, at least, can be tracked. Shouldn't we demanding the same oversight for the massive bailout of the financial sector. After all, they are largely responsible for the current state of affairs.