“The biggest robbery in the history of this country is taking place now,“ Michael Moore said in a public letter published this morning.

Nothing in the bailout package proposed by Treasury Secretary Paulson will prevent managers of failed companies from receiving millions in salary and much of the $700 billion is going to be given directly to Middle Eastern and Chinese banks, he wrote.

Over the weekend, Wall St. put a gun to the head of Democrats, threatening to blow up 401 k plans of middle class constituents, Moore said.

He added that Democrats have been bullied into being accomplices in the crime of the century as
Republicans use scare tactics to force a deal that will line the pockets of the rich rather address problems like the cost of health care, an underlying reason for the wave of home foreclosures.

“In this great democracy, we cannot let there be one set of rules for the vast majority of hard-working citizens, and another set of rules for the elite, who, when they screw up, are handed one more gift on a silver platter. No more! Not again!”

Read the full letter here .