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Editorial: Consider bailout carefully

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President Bush spoke for 12 minutes Wednesday night. In those 12 minutes, the much-maligned president called for quick action on a $700 billion financial industry bailout. "Without immediate action by Congress, America could slip into a financial panic, and a distressing scenario would unfold," Bush warned.

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Meanwhile, bipartisanship seemed to be the order of the day, and we're pleased to see that both Republicans and Democrats have apparently succeeded in an effort to place a cap on compensation of "Wall Street executives whose companies would benefit from the proposed bailout," the AP reported. There is no reason, after all, why taxpayers should be funding a federal bailout while financial company executives continue to profit and have riches well beyond our grasp.

Though we understand there's a definitive need for boosting our ailing financial markets -- one, for better or worse, with some level of government intervention -- we hope there's more careful consideration than rushing to judgment. Inaction won't help anything, but we as a country -- and as a world leader -- can't afford to be wrong.

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