I'm not sure about this 700 billion bailout plan. Like the email article, it seems to be helping large companies who got too big for their pants. What about say, the independent trucker who is going bankrupt because the high fuel prices are killing him? He's the one who brings our groceries to market you know.
And the small businessman who is closing his doors because he can't get a loan to buy needed equipment. And the salon operator who is refused credit to add some chairs.
All these scenarios take away jobs, lose tax revenues, and aggravate the problem.
A Time Magazine article on CNN this morning (where I got the photo above) argues that there are certain types of securities that should not be rescued (ie. bought by us taxpayers) because they are "derivatives" or "claims" on mortgages and not owned by the risk-taking banks themselves.
I don't claim to understand this but together with my concern for the homeowner with a mortgage, maybe Congress feels the same way.
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