Well one thing is for certain, this bailout plan is not over. I am not a very smart man(and I will take this from Glen Beck) but I am a thinker and in my business anytime someone pushes to get a deal done in a hurry, I always take a step back. Why? Because usually when someone is in a hurry it is because something in the deal stinks. Why the rush now. Why do we all of a sudden need 700 billion. There was no media lead up and in fact President Bush maintained up until a few weeks ago that the economy was not in a recession. So why the rush now?
I will tell you why, because something stinks and it smells like a big ball of socialist BS. Essentially what is going to happen is the government is going to be the owner of 80% of the nations mortgages. Which in turn is the first step to a government controlled socialist economy.
Not only that America does not have the money to bail out the irresponsible companies. We will then need to borrow more money from the Federal Reserve with interest which will inflate our currency even further. (Gold and Silver people). Then again maybe that is the point. Inflate our dollar to equal that of the Mexican peso and the Canadian dollar. Then we can just combine our currencies and call it the Amero similar to the Euro.
Okay seriously we could take Ron Paul's advice and move our currency back to something tangible like gold and silver. Then we could abolish the Federal Reserve system, balance our budget, reduce government and lower taxes. Sounds like the perfect plan to me.
It seems to me that if we let the companies fail on Wall Street that made the bad investments then the 700 billion could be lent to investors willing to do business correctly and start new companies. We are a country of spenders and we should be a country of savers. Look at China they have now stopped lending us money. What happens when they call out loans? how are we going to pay them back. Who is going to let us borrow more money if we don't have any saved up?
The moral of this rant is to let your Senators and Congressmen know that we say NAY to any type of Wall Street bailout. Including the AIG, Freddie and Fannies bailouts.