Remember the Bailout???

It seems like it was almost a year ago that Congress passed the $700 Billion Bailout but it was just a little over a month ago. I just ran across this in the news and was surprised by how sneaky the government is.

I know we have all be focusing on the elections and I think that I can speak for us all when I say whomever wins at least they will be OVER! I can’t take it anymore!

Paulson originally sold the bailout to Congress as a program for spurring lending by taking the troubled assets off banks' books. Within a week of the law's Oct. 3 passage, the Treasury shifted its emphasis to the bank equity purchases

In my opinion this needs to be the #1 issue for everyone. I can speak from first hand knowledge that this has done little to liquefy the banks. You might be able to get a residential mortgage if you qualify, but there is NO commercial money even for AAA deals.

They didn't even buy the troubled assets they just bought equity shares in the banks. The U.S. government has successfully nationalized the banking system. I don’t know about you but I don’t trust the government to run anything let alone my bank. Just think of how much access they will have to all your bank records etc. Now they are looking to expand the program to Non-Bank institutions such a GE. What the....does that mean. We all got sold down the river with this stupid plan and in addition they are already talking about issuing a new bailout when this one isn't even half used.