congressman talks about why they permitted the first bailout, there was already a run on the banks and the world economy was collapsing

yeah so nothing particularly amusing but he comes right out on c-span and tells us that the bank run had already happened, the good stuff starts about 2:10 into the video.

Apparently though i don't have the video, the treasury secretary Hank Paulson told congressmen that if they didn't approve the bailout the government would have no choice but to declare martial law. ouch

update: here's a link to the martial law video http://www.youtube.com/watch?v=HaG9d_4zij8