So, who is accountable if the bailout plan passes? Who will take the blame is taxpayers lose $700 billion? George Bush? Nancy Pelosi? Harry Reid? Henry Paulson? Nah. How about you? Me? At the end of the day, it's your money they're spending. And it's my money that they're spending. I hear a lot of doom and gloom being preached and I hear a lot of threats being levied but I have yet to hear anyone who wants to desperately to spend our money truly explain what they hope to accomplish and why we should go along with this hasty plan.
Do you really trust that this government knows how to responsibly spend another $700 billion dollars? I'm not sure I do. I would rather the market work it's way out of the current mess than to see Congress attempt to meddle in the market. There "elected" officials have run up trillions of dollars worth of debt and now they want to control the real estate market and fully control the banking system? Ha.
At the beginning, this looked like a sincere attempt to save the American taxpayer from pain. But it has become very clear that this is nothing more than political games to simply increase the power of those "elected" officials. Thank goodness the House Republicans stood up against ill-conceived plan and are demanding more accountability.
It will be interesting to see how this all plays out. I've written off the president...he is a man without a party as far as I'm concerned. He's become the worst at attepting to expand government at the expense of the taxpayer. Hopefully he'll find himself going it alone. I'm sure Dems will back his plan and it may very well pass at the end...but remember who continues to foot the bill and it's not those people in Washington.