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Our governments been doing this for years and its looking like they haven't learned.
Is throwing billions of dollars at corrupt corporations really going to help the little guy?
"The fundamentals of our economy are strong"
They used to be. Nowadays because of rampant outsourcing we are importing signifigantly more than we are exporting. Translation, WE ARE A NATION OF CONSUMERS, that is our main problem. We love to buy all the nifty gizmos that they make in Japan, so we send them our money and they send us a little gizmo. Well a couple years later that nifty gizmo doesn't work anymore and the Japanese haven't bought anything back from us. Are we poorer our richer?
I believe this to be the fundamental reason why our economy is failing, and the american dollar is losing value.
Throwing money at the top isn't going to solve anything, shit its just what the corps. want us to do. These are the same huge corporations that are outsourcing all of our jobs* and by doing so, sucking the wealth out of this country.
The truth is, the people who need the most help from the government are not the people that own stock in these companies or houses for that matter. Its the people who never had anything in the first place. The people trying to raise kids right, in dirty, gang infested neighborhoods in central Chicago. I'd rather my tax money help them out.
However, If the Government were to "buy" these loans and help people find a way to make good on them. Exercise some leniency and give people smaller payments/more time. The government could end up making money on this deal. And that would in fact, help all of us.
I'm really not educated enough on this topic to post a huge rant. So these are just some thoughts I've had. Anybody want to contribute some thoughts or set me to burn? I admit I am not an economist, and I don't understand the intracasies of our economy, but I do understand the fundamentals.
*I'm not sure if Lehman Bros. Merrill Lynch, AIG etc.. are guilty of this in particular. I'm more referring to corporations in general, because saying "I don't think we should bail out corporations" is a general statement.