Bailing for dollars

Are you sick of me sharing my love for the Freakonomics blog? Hopefully not, because they have several interesting, easily digested postings about the defeated Congressional bailout plan (read this first, then this, posted by separate contributors today).

And hopefully you know that David is dearer to me even than the Freakonomics blog. As I've mentioned before, he posted his thoughts on the market mess some time ago. Go ahead, read David's thoughts on the financial crisis, if you haven't already.

All this talk about the rejected bailout bills reminds me to put in a good word for Sunlight Foundation, an organization that encourages government processes be subject to "public input and scrutiny" (sunlight is the best disinfectant, you see). They have created a website--PublicMarkup.org--where proposed legislation is posted and the public can read and comment on it. They'd like to make this the norm, that any proposed bill be open for a period of public scrutiny before it's voted on (kind of like, don't just propose then immediately get married; it rarely works out as you expected in that moment of frenzied emotion). For a fully commented-on example, see the PublicMarkup on Senator Dodd's proposal for buying mortgage assets. Then go contribute your feedback (or read that of others) on the 110-page Senate plan, the Senate Emergency Economic Stabilization Act of 2008.