Bailouts and More -- What Do We Expect From Our Leaders?

[John]

Here's an article on the bailout I just wrote.  While I try not fan the political flames, there are too many games going on now to remain silent.  Anyway, if you want my take on it all (as well as a discussion in simple terms of why there's a problem), here it is.

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In case you haven't noticed, there's been a week-long effort to get Congress to approve a plan for the government to borrow $700 BILLION, and in turn use it to buy bonds in poorly-conceived investments that have turned sour.

To make a bad situation worse, instead of buying those investments at current market values (which any prudent investor would do), they want us to authorize them to pay significantly more (though still less than what the banks originally thought they would be worth).

Some think it is admirable of Congress to step forward to try to solve this problem which has our banking system on the verge of insolvency and economy on the brink of shutdown. They praise them for acting so quickly to tackle such a monumental issue on the even of adjourning to go run for re-election.

I, however, am not one of them.

Read the rest at http://peaceoptions.com/node/192.

--
John Dennison
Working for a Better World
www.PeaceOptions.com