It Sounded like a good idea at the time

This financial bailout is a major shit in the way we view America, and what America stands for. I don't think this bailout should be rushed, nor should anyone play politics with the bill.

We stand to lose a great deal of freedom and liberty if this bill is not done correctly. If we lose our ability to fail, we will soon loose our ability to succeed.

After all of the reading about this, and I'm no financial wizard, it seems the root cause is that FedGov, in a time of economic surpluses, wanted to force the 'trickle down' allow home ownership assistance to those who may be in positions to really afford it. Thus, lending institutions were forced to make loans that were that much more risky. It sounded like a good idea at the time.

Freddie and Fannie, being government enterprises, backed these loans. These institutions grew too large and didn't reserve enough cash to ensure these institutions would not fail in worse economic conditions. Now, We the People must make a choice, and it is not a good choice. We need to either spend at least 700 billion (and since when did any fedgov program not cost way more) to shore up the financial market by buying up the bad debt at a discounted price. If this is done right, all of the money will be eventually repaid by selling the assets at a higher price when the market goes up. If this is done wrong, we will not only eat the cost, but transfer so much power to FedGov that we may as well call ourselves the Peoples Republic of America because FedGov will have direct ownership of banks and lending institutions as well as Insurance companies (AIG).

The other option is for Fedgov to do nothing to bail out these institutions. Rather, they should rescind the legislation that was created in the first place that caused this mess. This may cause another stock market crash, and a real recession in the short term. However, the market will correct itself and we will be stronger for it. This is probably the right thing to do, but highly unlikely in an election year. Nor will our congresscritters admit that fedgov is the problem rather than the solution.

We don't hear press reports about the root causes. there is a very good reason for this: the press has an agenda that is to do no harm.... to Democrats. I have linked to video showing the history of the problem, and you see that Bush, GOP leaders and McCain has all said we need to fix the problem before it gets out of hand. Here is another link. Well, it is out of hand now thanks to inaction by the Donkeys.

No matter what congress decides, we are in for tough times.

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