Current Financial Crisis

WOW!! That is about all I can say at this point. With the House vetoing the bailout bill today, what will that mean for us. As I watched CNN listening to the analysts talk about the issues, I can't help but think, Damned if ya do, Damned if ya don't. I know this is a negative thought track to think this way, but I do not agree with the bailout because why should taxpayers come to the rescue of Wall St. (The Man), for their fiscally irreponsible actions. All of these lenders, banks rode thewave of loose lending laws and made billions. Now that the crap has hit the fan, they cry HELP! Who is going to bail them out? It will be our tax dollars. We might not feel it right away, but make no mistake we will feel it. I can guarantee that none of the CEOs of these companies has to worry about how to put food on the table tomorrow. So I have a real problem with the bailout, and I think the politicians finally listened to the voice of the people saying we don't want this. I, however, also see the issue only getting worse, and I mean a lot worse if something is not done. If we don't return liquidity to the credit markets quickly, than any credit based industry is going to tank. Car companies are already feeling the pain of this, and should this problem eliminate their already shrinking customer base, they are screwed. So what do we do? What is the lessor of two evils? My answer is I really don't know. As I stated,the idea of a bailout doesn't sit well with me but is it the better solution? Only time will tell.

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