The financial system bailout

I'm against the federal government being involved in so much because I don't as a rule trust congress to do what's really best for the people. They are as a rule selfish and self-important. They are like the rooster who thinks the sun rises because he crows.

But this time there may have to be a big government solution because BIG Government created this damned situation. The faults and flaws with Fanny Mae and Freddie Mac have been known for 5 years and even massive fraud a few years ago didn't cause congress to stop it.

One other thing...I get damned sick and tired of people who know better that this bailout will cost the taxpayers 700 billion to 1 trillion dollars. Anyone who believes that is an asshole or is willfully ignorant. The proposal is not to give money to profligate investors. Most of these mortgages etc will be repaid in substantial part and considerably secured. The assets acquired will be later sold, many at a potential profit.

I do disagree however with bailing out the auto industry and school loans. This will be effectively pissing money away. Naturally the Dems are pushing this. You can always depend on them to make a bad situation horrible.