I might as well start this post off by requoting Tom Woods as I did in Stupid and Evil part 1:

“Americans are faced with a choice between the stupid party and the evil party and once in a while the two parties get together and they do something that is both stupid and evil. This is called bipartisanship.”

Dr. Paul posted an urgent, dire-toned message to the Campaign for Liberty blog today. Some highlights:

The bailout package that is about to be rammed down Congress’ throat is not just economically foolish.  It is downright sinister.  It makes a mockery of our Constitution, which our leaders should never again bother pretending is still in effect.

I don't even know why we bother worrying about the Constitution anymore. When you ignore large parts of it, what does it matter anymore? Congress has already ceded it's war-powers to the President, it's given it's Constitutional duties to be in charge of the money supply to the big banks (The Fed). And now this?

The Federal Reserve System is actually positioning itself as the savior, rather than the culprit, in this mess!
•    The Treasury Secretary is authorized to purchase up to $700 billion in mortgage-related assets at any one time.  That means $700 billion is only the very beginning of what will hit us.
•    Financial institutions are “designated as financial agents of the Government.”  This is the New Deal to end all New Deals.
•    Then there’s this: “Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.“  Translation: the Secretary can buy up whatever junk debt he wants to, burden the American people with it, and be subject to no one in the process.
There goes your country.

That last one is crazy.. the Secretary of the Treasury can make decisions and no one, not Congress, or the Supreme Court can do anything about it. Scary stuff.

This is especially important:

The two major party candidates for president themselves initially indicated their strong support for bailouts of this kind - another example of the big choice we’re supposedly presented with this November: yes or yes.

It's a shame that we can't go back to the primary stage of the election. Dr. Paul was out there talking about the economy and monetary policy, and no one wanted to hear about that or listen. He was warning that a crisis was coming, and we really haven't even hit the real crisis - the complete crash of the dollar.

You know, I hate going to the dentist, so I didn't go for about 8 years after college. But by putting it off again and again, the work I had to have done was more extensive and painful than it would have been if I had just taken my medicine in the first place. In a sense, that's what's happening to us. We keep artificially putting off recessions, and putting out all this easy credit, taking the easy way out in the short-run, which is going to come back to haunt us in the long-term.

Here's Dr. Paul on Fox Business today explaining a lot of the issues: