When an outgoing administration characterised by avarice, corruption, incompetence and belligerence demands an open cheque for $700Bn by the end of the week, Americans and others need to ask some searching questions.

dave hall, Stafford, UK

So now the banks come cap in hand to the tax payer, we should show them the same mercy they have shown the unlucky customer. Let them fail, greed is not good.

Mark, Glasgow, Scotland

After the dot com bubble burst in 2000, shares went into a tail spin, threats of deflation loomed, interest rates were cut everywhere to save the global economy. Now look where this got us. Rescue plans seem to delay the problem and create a bigger one later.

J.Clark, Sussex, UK

Terry, Paulson had been at the head of Goldman Sachs until 2006...busy creating the mess that he is now trying to save us from. Rather like putting the fox in charge of the hen house, after he actually built it!!

Carl, Pafos, Cyprus

I read this article then the one below. See what 'Buffet has just made'. Let the money men look after themselves. The thing that is getting me is that they are insisting on Tax Payers money, the same tax payers who in a lot of cases are paying more tax than the bankers/spivs get away with.

Ed, Stockport, UK

What clowns have we in charge of the economic & political establishments. Buffet has bought a stake in Goldman Sachs on the hope that taxpayers dollars will bolster its price. These are the sort of capitalists that should be made to pay for their irresponsible dealings.
Nationalise their profits!

Stephen Marchant, Newton Abbot, Devon

Bernanke, an expert on the 1930s depression? Well he can't have learnt much...

cww, Ipswich,

Banks have been acting irresponsibly for at least 10 years. Bernanke's and Paulson's organisations have ignored the signs and failed to act on this predictable catastrophe. The financial 'system' (a non-sequitor if ever...) must be rescued for all of us, culprits nailed, and vengence wrought.

Ray, UlaanBaatar, Mongolia

It's easy... we look after each other before we look after little bits of paper... this is the last time I shall warn you. Enough already, look after yourselves.

Mark, London,

Where has Paulson been? Didn't he have any clue about the situation? Most people with a whit of intelligence saw this coming a year ago! And for Bush to show his face again and declare that he has taken the lead is laughable. This country needs balanced leadership and balanced books. Enough!

Terry Banyard, Washington Crossing, USA

I've been following this pretty closely on CNBC (peerless!) but ultimately am none the wiser. Which makes me think that NOONE knows what's going on. So I have to say that Margaret from Alva makes a seriously great point: someone should work out who owns what before the money-printing orgy begins.

Jono, Carmarthen, Wales

Once Paulson's plan has been agreed in principle (US tax payers share the cost burden) and legislation approved the stage is set for an historic bail out of corrupt financial institutions. $700 billion is just the tip of the iceburg. Just say no! Although I doubt US tax payers will get the chance!

NDG, Tokyo, Japan

Dishing out $700 billion of taxpayers cash to create more credit without any controls is throwing good money after bad. It won't be long before they are back for more to pour down the big black hole that is their exposure to debt, the size of which is not known. Karma for their greed.

Margaret, Alva, Scotland

Perhaps someone should explain who owns the Federal Reserve if it is not the US government and what are the business objectives of the owners for the immediate future - before the $700 billion is approved!

Brian Lewis, Manila, Philippines

The federal reserve is owned by the same people who own the banks.Of course they are imploring the american tax payer to save them from their over zealous greedy activities. Maybe if banks were more forgiving on such thigs like bank charges then they maybe the taxpayer would have reciprocated.

paul benson, surrey, UK