As the Secretary of the Treasury goes before the Senate Banking Committee today, I don't think it should be a surprise to anyone that lawmakers in Congress aren't exactly in a stampede to rubber stamp the Wall Street bailout proposed by the White House.

It's not that Democrats are going to block it or anything, but the few voices that were heard on the issue on Monday in the Congress showed that the questions about the deal are bipartisan in nature, especially from rank and file members that you've never heard of.

"I have serious concerns about putting taxpayer dollars on the line for $700 billion," said Congressman Tim Wallberg of Michigan. 

"As this proposal evolves, my priorities are protecting taxpayers, encouraging economic growth and making sure taxpayers are not subsidizing severance packages for failed CEOs," Wallberg added.

Oh, and by the way, Wallberg is a Republican.

Not all Republicans are talking like that though, as GOP leaders are echoing White House demands to quickly approve the bailout bill, and not get bogged down in all kinds of extra plans from Democrats (some of which are backed by Republicans.)

"Urgent action is needed," said Senate GOP Leader Mitch McConnell, "We ask our colleagues across the aisle to show restraint."

But Democrats are in no mood to show "restraint" as they feel like this plan should not be approved without a full review.

For now, they seem to be looking at aid for homeowners facing foreclosure (if you can help Wall Street, why not Main Street,) plans that would restrict CEO pay at companies that take federal help and the idea of having the feds take a stake in those financial institutions which get bailed out.

That last item would be akin to what Congress did in the 1970s in the bailout of Chrysler and after Nine Eleven, when Congress gave help to the nation's airlines.

The feds got stock warrants in those companies, and after a few years, those financial stakes netted the US Government several hundred million dollars on the plus side.

The first Republican to speak on the floor of the House spoke in favor of that idea, and I bet it picks up some steam this week.

While President Bush wants action by the end of the week, I would still be very surprised if that happens.  There will be action, just not on the schedule of the Bush White House.

And don't forget, Mr. Bush is in New York the next few days for the United Nations General Assembly, so it's not like he's hunkered down in Washington, D.C., waiting on Congress.