I will tell you that I was surprised the House did not vote for the bailout.
I am only slightly surprised that a new version has been drafted by the Senate, and will soon be most likely passed by Congress.
What I will also tell you is that the whole thing is a scam. Fear tactics to bring about a desired end. But it will do no good, and instead of a sharp dip, and then a recovery, we will be slogging through this for a long time.
I am annoyed that I will be subsidizing people who made bad, unethical, and sometimes illegal decisions. I told Hubba-hubba the other day that we just should have thrown caution completely to the wind, bought a 700,000 house that we couldn't really afford and be bailed out by taxpayer money. I mean, how is that not a good deal?
And for all this crap about ooh, you won't be able to get a loan for your car, or a school loan, or housing loan, it's exactly that, a load of crap. Ask yourself if any major Federal Credit Unions have gone under. The answer would be no. Credit unions have bunches of money they are more than willing to lend to people, I have this info from an insider.
So, if you feel like sticking it to the banks, go through a FCU for your next loan.