http://news.yahoo.com/s/ap/20081014/ap_on_bi_ge/financial_meltdown

But I can't vote.

In plain-speak the government will own shares but not have any voting rights.

The funds will be used for SIBs or Systemically Important Banks - 9 so far as we know (CNBC coined).  So basically the government is picking the winners and losers of the financial sector based on a number of factors, all important.  Now these banks will go on to pick the winners and losers in the private sector by whom they finance.  Even though the gov't doesn't get a vote you have to believe this is a necessary but risky move for everyone involved.  We need the credit markets working again.  The next best option to somehow intervening and bottoming the hosuing market would be this move.  Still though our debt is piling up as we speak... we need to make sure that when we get fat again to make sure to pay down this deficit.  Yes, that probably means spending cuts or tax increases (probably a combination).  Hopefully President Obama and his Rubinesque advisers will do this - their track record indicates that they will.