Is the House GOP Correct to Resist the $700 Billion Plan?

I CANT GET ANYONES E MAIL ADDRESS TO WORK EXCEPT YOURS PLEASE TELL LOU DOBBS HIS COUNTRY IS NOT A DEMOCRACY WHERE MAJORITY RULES ITS A REPUBLIC THE DIFFERENCE IF 99 PERCENT OF THE PEOPLE VOTED TO SEND THE OBAMAS BACK TO AFRICA THE MAJORITY THANK GOD COULD NOT BECAUSE A REPUBLIC IS A COUNTRY OF LAWS LAW SAYS NO WISH I COULD FIGURE OUT HOW TO GET E MAILS TO WORK TONT MEXICO

"Potter's not selling, Potter's buying..."

Once again, the public has been spooked by President Chicken Little and his minions to get exactly what he and his fat-cat backers want...more. It's an insatiable lust for money and power that knows no bounds. In all the hullabaloo, big companies are devoured at pennies on the dollar, and after all the money the money interests have made creating and trading these highly leveraged mortgage-backed securities, they now want us to cover their losses.

And anyone who argues that it is just this administration, or just one party in congress driving this does not understand the power of greed and fear, greed of the wall streeters, their lobbyists and key government officals, and the fear they can whip up in the population that drives the rest of government to fall in line.

Any minor changes to the timing of the bailout, promises of taxpayer security, future regulation and payback, are just window dressing on the main event - bailing out wall street with taxpayer dollars. And other pretty ornaments, like raising the FDIC max to $250K, could be passed separately if truly deemed effective without the rest of the bailout.

You know you're getting the bum's rush when all of a sudden its the eleventh hour, disaster is imminent, and no other option is really discussed. It's the Patriot Act and Iraq invasion all over again. And they do it because it works.

They got something right!

What a novel idea. Stop extending credit to people who can't pay it back! Genius!

But the economy will go into a recession ... people and businesses won't be able to get credit ... the credit markets will be frozen ...

No they won't. It just means that if you can't afford to buy a car, you won't be able to. If you have the money, a regular income, even a good credit history, you will be able to buy a car.

If you can't afford the payments on a home, you won't be able to buy one. No kidding.

For too long, banks just gave away money to anyone who asked for it. Sub-prime mortgages ... let's find a way for people who can't make the monthly payments to get a house and the bank can make money on interest as long as they do pay. And when they can't, the interest will have built up so much that they will owe more than the house is worth.

It's no wonder the tallest buildings in any city have bank names on them.

It's time for some of those names to disappear.

The artificially inflated stock market value will find a point where it should have been if banks extended credit to people with good credit ratings.

Personally, I have had it with credit. I look forward to paying cash for everything from now on.

But the bailout not passing will hurt everyone!

I am getting two promotions in the next two months. I just paid off my last credit card. By 2009, I won't have any debt except for a mortgage. How can things be going so well? Because I am buying things I can afford. My car is valued on KBB at $375. I can't afford a new $30,000 car, and I don't feel entitled to owning one.

If the stock market goes up 28%, investors think they are smart. If it goes down 28%, they demand someone step in and save their money. But isn't it a well known fact that stocks can go up or down? Some can go to zero. It's a risk one takes.

If the government wants to get into the mortgage, banking, insurance businesses ... and if Barack is elected add Health care ... then Congress just needs to wrote a bill declaring the U.S. a Socialist country. If the government controls or oversees all of these aspects of people's lives ... that's what we will become.

It seems like we want to be Capitalists when things are going well, and Socialist when things are bad. My sister-in-law described this type of country perfectly ... "Crapitalist"

But, until Congress passes a law declaring the U.S. a Socialist nation, free markets should prevail and smart businesses can continue operating while those who were built on a poor business model that finally caught up to them will go away.

That's the way things should be. Make smart decisions, succeed. Make dumb decisions, fail. Not make dumb decisions, get rescued and make everyone else pay for your mistakes while you continue to make the same dumb mistakes.