Ann Coulter

Democrats have decided that in order to prevent Wall Street from starting more financial meltdowns, wrecking the economy and leaving the American taxpayer holding the bag, we need to give more oversight authority to the same government employees who were busy surfing Internet porn as private investors frantically tried to warn them about Bernie Madoff.

The Democrats' financial "reform" bill also includes a $50 billion bailout fund -- that's million with a "B" -- that will save the Democrats from the unpleasant task of having to go on record voting for another Wall Street bailout.

Under the Democrats' bill, the FDIC will distribute the bailout money to Wall Street bankers without Congress having to take any action at all. (In the House version, the slush fund for the Democrats' Wall Street friends is $150 billion.)

True, the billions of dollars will be doled out to banks for the purpose of "dissolving" them. So what? They'll come back under a new name. But the guilty parties will lose no money for making bad bets -- although if the bets paid off, they'd take all the profits. That's what Democrats mean by "accountability."

Michelle Malkin

Not surprisingly, the only politicians opposed to a permanent bailout fund for bankers are the politicians not owned by Wall Street -- that is, most Republicans, and one socialist, Bernie Sanders of Vermont.

The Democrats' defense of Wall Street's golden parachute is to say Senate Republican leader Mitch McConnell used a "talking point" formulated for him by pollster Frank Luntz in opposing the bailout fund.

As Frank Rich explained in The New York Times, the bailout fund is not a bailout fund because "Sen. Mitch McConnell went on CNN to flog his big lie that the Senate reform bill somehow guaranteed bank bailouts -- a talking point long ago concocted for the GOP by its favorite spin strategist, Frank Luntz."

In other words, it must be a lie because ... because Frank Luntz told McConnell what to say and then McConnell said it on CNN!

Yes, and Steve Jobs gets his best ideas from parishilton.com.

Sen. McConnell doesn't need Frank Luntz to explain anything to him, least of all the financial reform bill. A fifth-grader could find out about the permanent bailout fund simply by reading the bill.

You will notice that neither Rich nor any of Wall Street's defenders specifically deny the existence of a permanent bank bailout fund in the Democrats' bill. They just say McConnell used a "talking point" to denounce it. (You might say this has become a "talking point" for Democrats defending the bill.)