Ok, so here it is, We have a policy that goes bad and I mean bad(Fannie and Freddie's initiative of making homeowners of the un-credit worthy). Then on the brink of the markets correcting themselves(it is my opinion that if the banks in trouble would have gone under quickly, at the end of the day we would have had 5 or so, large banks still standing that the market could count on) we give 700 Billion to a guy, who, without much direction can support the banks(his friends?) he wants. Ultimately though this will only further destabilize the markets since they still won't know which banks are solid and which ones suck! So here we sit waiting to see what the markets will do Monday.
All I know is that my Congressman Joe Barton voted no! Thank God for men like him.
Read his thoughts of doing this.
To be continued.....
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