This is the second blog I’ve read in two days where someone commented that we should give $700 Bn to the people, calculating that with, say 100 million adults, that would be $700,000 each. For instance, I quote from above:

“… why not give the hard working tax payers a couple million dollars each to pay off mortgages, buy new houses, cars pay off our debts. This would only cost maybe 100 billion compared to 700 billion …”

Let’s say 100 million taxpayers get 2 million dollars each. That is $200 TRILLION dollars, not $200 Billion. So if you want to spend $200 Billion dollars and give it to 100 million taxpayers, then each will get a check for $2,000 dollars. That is not going to fix this, people.

But then again, maybe the previous poster meant a particular “class” of taxpayers – i.e. the “hard working” class. Gee, I thought I worked hard, but somehow I don’t see how I’m lucky enough to fall within the 100,000 taxpayers that would “qualify” as “hard working” in order for each to get $2 million out of a $200 Billion dollar fund.

Seriously… Why should this money go back into the pockets of the people who lost it? Where is the accountability here? Why aren’t the people who made millions or even billions on this going to jail and having thier assets siezed?

Warren, you should be ashamed of yourself for supporting this Bailout Package. . .

However, for the good of our country, it seems that we should allow true market forces to adjust rather than having politicians (and wall street) try to control them.

On a personal note, I am 69 years old (collecting a whopping $1400 per month from Social Security) and still contributing to Social Security in a small repair business that I have been running for the past 7 years. I’m willing to cinch up my belt buckle and let the market adjust in its own fashion even if it takes some extreme discomfort for several years. I too, am upside down in my mortgage, but I am not asking nor do I expect any type of assistance since I willingly accepted the terms and conditions of this debt. I will not default on my lender.

Buffet did not invest because he wants to demonstrate his confidence to the American people. The billions he is investing will mean outrageous returns for him if the bailout goes through – and all this on the backs of the American taxpayer. And he wouldn’t even feel the loss if there is no bailout. This is socialism for the super-rich. His actions are nothing more than crumbs placed in the trap to sucker our wills and weaken the already milk-toast resolve of the American people. Its the common child’s story of the disquised wolf saying “follow me little children, I know the way to your happiness and safety.”

BTW – Paulson was one of the original supporters/designers of this mass mortgage financing scheme while at Goldman Sachs. Buffet is no fool in the expertise of management to secure his return. Paulson would be like the fox being in charge of the security of the hen house – while the mega-rich stand behind the hen house with their bags waiting and opened.

Wake up people. Let’s not continue to enslave ourselves – as we have done in recent histroy. The dollar will only get weaker with a bail out. But if we allow the market to do its work of circulating value and flushing non-value then the dollar will get stronger and our economy will rebound within months from the resulting recession with a robustness not seen in decades.