The reason Congress MUST pass this bailout bill NOW is because in a short time an Obama administration might be taking over. THAT is the reason it has to be done NOW and uses up all the rest of the money the United States might be able to borrow, ever, instead of passing something that covers the problem for a few months. Otherwise there would be a chance for a sensible approach that follows the principles of one-person-one-vote democracy instead of one-dollar-one-vote Republicanism.
Chris at Open Left writes,
Cut Bush out of the equation. Start negotiating with the candidates instead, thus forcing them to make this their first action as President. This will also have the positive result of making the election about the bailout and corporate malfeasance in general. Hell, it would also make every single congressional campaign about the same thing, since every candidate would be forced to work out the deal for two weeks before the next President is in office.