Hey C.S. How have you been? I am and have allways been in serious opposition to this, and all other gov. bail-outs. I was against it with the S&L's and am against it now. This is like asking the Captain of the Exxon Valdez to run your shipping safety, or better yet... You go in for surgery, the surgeon slices an artery. He then puts a band-aid on it, falsifies the charts, and closes you up. A few years later the artery ruptures. Who do you put in charge of your surgical team, the doctor who sliced the artery in the first place???? NO!!!!!! Forget about this being completely OUT of the scope of the Fed's responsibility, This goes against everything we as America are supposed to stand for... Lets just put ALL industry in the hands of the Gov. Health care, Energy, Banking, Education, Transportation. Also, I will add to what Common Sense said about how this all started, Go back to the 90's when good ole Bubba was gettin' blow jobs in the white house, and Barry was a "community activist". Banks at that time were "red lining" certain loans for certain neighborhoods because they knew these were high risk. Along comes ACORN and Jesse and La Raza and Barry and Bubba demanding under threat of disrimination lawsuits that these lending institutions opened up the market to these communities. Dont think King George gets a pass on this either, 2004 he encouraged the same thing..So the banks do, they start "green lining" this paper, givin out loans like F'n hotcakes. Christ, you didn't have to prove income, provide a down payment, you didn't even have to be a citizen. They were even giving out 125% of value loans,,, Whoo-Hoo!! isn't America F'n GREAT.....You get a brand new house and enough to go by that hummer...And you only have to pay back interest (for a while)...Builders started building 4,000 sq. ft. track homes, McMansions!!!Sign on the dotted line, "Oh that's OK, I dont need to see that!!".. It was a ponzi scheme, it was a bet. Property values were rising so you could just re-fi in a year or two....There are Big Macs to inhale and stretch pants to buy!!!WAA-MU!!!!! Well everything that goes up...... must come down.. Christ, I learned that in like the second grade. These companies hedged their bets, they took a clue from the Federal Gov. and spent like there was no tomorrow. Values droped, people couldn't re-fi, and BOOM there you go!!! Now the very same people who screwed this all up want US to trust them with Seven hundredredred B-B-Billion dollars. Duh, OK! Remember the surgeon above... This whole system needs a good douching ( sorry girls, no offense! haha) It needs this adjustment. Wall street was never intended to be run like Vegas. Let these companies expire, let these houses sit for awhile. Get back to the days of down payments and qualifying. 95% of all mortgages are fine, they are being paid off by responsible homeowners.... Oops, times up''''

I partially read your response, but I don't feel like reading that much. - A.) First of all, heads should roll for keeping Fannie May and Freddie Mac sub-prime lenders *COUGH*CLINTON*COUGH* B.) McCain should get considerable support for trying to get regulation of Fannie May and Freddie Mac C.) Same for Bush D.) Last time we had a government take over during a depression (Close enough..), we had a total gov't takeover by FDR. And that hard left to socialism is a lasting impact to today. E.) If we allow another government takeover as proposed by Bush (Who's trying to be the next FDR and get written into History favorably) then we will never recover. We may still be capitalist, but just a step away from socialism. My thoughts at least.

I believe that congress did the right thing by voting what the general public wanted. I did read your opinion, thank you. I wonder if you haven't missed the two major issues here. l. congress listened to their constituents 2. Neither congress nor the general public has the foggiest what happened here, and therefore what the solution will be. Most well trained, experienced accountants/financial experts do know what is going on here, and do have the proper solutions, but none has the power. Socialism is not the boogy man you think it is. My own personal opinion is that the ultimate solution to the government of mankind is much closer to "socialism" than to a representative democracy.

the reason why i heard it didnt pass was because of all the extra riders and earmarks and attachments for individual groups. not because of what the people wanted.

Plus there was a lot of this going on with the Carter administration and if anyone can get a hold of the Washington Post Headlines in 1998...Clinton told Freddie Mac and Fannie May to lower their standards for his "pilot program" which would allow people with not good credit and people who could not normally get a loan to be able to get one now, even though the compaines would know going into the deal, the loans would eventually not be paid off! Its just a mess. We need to do something! I don't know if any of you have College age kids on Student loans?? But if something is not done here....they will be coming back home! There will be no more loans!

am agains the bailout because I think it is just putting a band-aid on the situation. All previous bailouts have failed and all we are doing is putting ourselves deeper in debt to china and the FED by borrowing and printing money out of thin air. Sure the bailout got a no vote, but mark my words, they want it and regardless of what the people want, they will eventually still do it, you can bet on that.