Politicking.....

Are they just trying save face? We can only wait and see what provisions Congress places on the 700 Billion dollar bailout, because the bailout is imminent. 700 Billion dollars is a number you have to say. You can't just say "the money" or "the loan" or just "the bailout package." You have to say "700 BILLION DOLLARS!". That is a ridiculous amount of coin. Damn........with that many chips I could save all the kids on those Christian Children's Fund infomercials.

Bush: Bailout plan necessary to deal with crisis

WASHINGTON (CNN) -- President Bush, saying "our entire economy is in danger," urged Congress to approve his administration's $700 billion bailout proposal.

Failure to act quickly on the bailout plan could result in a "long and painful recession," Bush warned.

"We're in the midst of a serious financial crisis, and the federal government is responding with decisive actions," Bush said in a televised address Wednesday night from the White House.

Bush pointed out that the collapse of several major lenders was rooted in the subprime mortgage market that thrived over the past decade.

He said passage of the $700 billion bailout proposal was needed to restore confidence in the market.

"I'm a strong believer in free enterprise, so my natural instinct is to oppose government intervention," he said. But "these are not normal circumstances. The market is not functioning properly. There has been a widespread loss of confidence.

"Without immediate action by Congress, America can slip into a major panic."

Read the rest of this article here.



He sounds so confident and so sure (as a politician should) but what if this doesn't work? Then what happens? The stimulus package was supposed to work and it didn't. I'm not an economics major but this is 700 billion dollars being pushed into the system that wasn't there before. What about the inflation that is going to occur? The Congressmen were right that you can't make a rational decision on 700 BILLION DOLLARS in 72 hours. I don't know if you can. This seems like just a quick fix. It isn't going to be this easy and it's wrong how the President (once again) is misleading the American people. Fool me once shame on you, fool me twice shame on me, fool me a million fucking times we need to all re-evaluate our sanity. This money isn't coming out of thin air someone is going to have to pay for it and that burden is usually placed on the taxpayers. This man is pulling more wool over our eyes. When has he had the best interests of the American people at heart? Who does this deal benefit and why are the two FED chairman so animate about the deal? I'm glad congress isn't going to hand them a "blank check" but when dealing with so much money (regardless of their efforts) how can we the taxpayers, not feel this in our wallets?