Is this Socialism?

I am not that convinced that this bailout (or any of the others for that matter) is the right move. The government/taxpayers have a responsibility to help those in need, but we cannot be enablers of poor behavior. That just makes a disfunctional financial system- and isn't that what we have already? The government is charged with the responsibility to protect the people. Instead, what they will be doing in a few short days is protecting the wealth of the ridiculously wealthy. It is imperative that congress think long and hard before passing this proposal. Serious consideration and much deliberation must take place before passing a proposal that uses the following verbiage:

(b) Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation: "without limitation???"

This is giving power to the secretary of the treasury appointed by George W. Bush to appoint employees (i.e. more cronies) to handle this bailout, enter into contracts of their choosing, designating financial institutions as financial agents of the Government (which sounds a little like socialism), buy up mortgage-related assets, and finally, verbatim: (5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.- "without limitations."

Members of our congress are expected to quickly and "without playing games" (House Minority Leader John Boehner, R-Ohio, CNN)1 to make this our policy for dealing with this subprime mortgage crisis that threatens the country and the world. Is there no room for debate, or provisions for the very people who are paying for this? I want to know what is going to happen to those whose homes have foreclosed, and I want to know how this will protect those who are on the brink of foreclosure. What about their bailout? I distinctly remember a time when the White House was asking for "no limitations." It wasn't long before the words, "Mission Accomplished." and the realization that we had, in fact, only accomplished the task of making a somewhat stable nation a complete disaster that is now a breeding ground for terrorism. The democrats folded then. I certainly hope they stand up this week. This is taken from the following link which is the proposal as it was sent to lawmakers overnight.

http://money.cnn.com/2008/09/20/news/economy/treasury_proposal/index.htm

1. http://money.cnn.com/2008/09/21/news/economy/bailout_proposal_Sunday/index.htm?postversion=2008092110