Two new developments on the bailout:
1) According to Tony Fratto, WH Spokesman, this plan was in the works for months. Lawmakers have only days to study it. (Red flag)
"Fratto insisted that the plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough."
Note: The plan is three pages long. It took months to craft it. (another red flag)
2) The FBI is starting an investigation into fraud by CEO's of Fannie Mae, Freddie Mac, Lehman Bros. and AIG. (huge red flag)