by Jesse Loose

Created on: October 01, 2008

They are talking about bailing out the banks and wall street to the tune of $700,000,000,000.00! The result will be that all the banks and financial institutions that loaned money, mostly for home mortgages, will get paid for their foreclosure debts. Now they will still keep the homes that they foreclosed on and can resell them now at a 100% profit. This is great for them but terrible for the citizens of this country. Here is the math of this mess. There are approximately 300,000,000 men, women and children in the United States. Our congress is asking for over 2.3 million dollars for every person in this country. And as a reward for giving it to them, anyone who has been forced into bankruptcy by the job market or medical problems gets to watch as their home is taken and given free of charge to the bank that loaned them the money to purchase the home. They then get to sell that house and pocket 100% of the sale price and still demand the difference from the sale price and the loan price from the poor slob that originally made the loan. This is what foreclosure is, it is not just you lose your home and go get another that is not so high priced, you are still liable for the difference between what they sell that foreclosed house for and the original loan amount.

Now this bailout may well save the banks but it will just about kill the population who has to bear the cost of corporate greed.
As one of the We the People of the United States of America I would like to offer this little solution. Pay that money to the people and bail the people out. Let them then pay the debts that have put the banks in such a mess. That will solve the problem of the foreclosure rate, bank bad debts and the stock market all the same time. Oh yeah and it will help the people, you know the ones that put you in office in the first place.
It may even spark a wave of economic growth and new business start up from people who have always wanted to own their own business but not had the means to start one.
Congress needs to start helping the people of this country, it is a fact that in any business if you take care of the people and see to their needs you will grow. Rip them off and you will fail. So congress stop ripping of the American people please, this country is too good to let it fail or fall into a socialist state. It is bad enough that we are closing our borders for the first time in history, I thought that the iron curtain was in Europe not the United States. The economic crisis facing our country is not something to be fixed by the trickle down economics. The American people are in trouble and the bank failures are just a symptom of the severity of the problem. Bailing out the banks and stock market without helping the people of this country amounts to putting a band-aid on an amputated leg. It just won't work to stop the red ink. You have to get this money to the real source of the crisis and that is the people. In the long run it will be cheaper and the fix will be one that lasts longer than the next round of bonuses pass out by the board of directors to the CEOs that got Uncle Sam to give them free money. If you want to fix the problem then by all means address the root source not just the symptom. Every doctor knows that, so if you want to play doctor with the economy then heal it not just treat the symptom and hope it will get better, it won't.

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