Fed Plans to Spend Up to $800 Billion to Jump-Start Lending Markets

Translated, this means that, as a result of things dropping in price and gambles on securities and derivatives, banks have lost or are about to lose a lot of money and the taxpayer is going to absorb their losses.

The very last thing that you should do is give someone who is addicted to gambling more money.

The last thing that the population needs is more loans. Too much of its income is going towards paying interest already. When interest is paid, it goes directly to the banks and does not generate commerce in the economy.

This also will not stop the foreclosures or the loss of jobs, which are the only things that the government should be concerned about.

http://ewebsmith.com/gov/BankBailOut.html

web Smith of CA 1:42PM November 25, 2008