Post #177

Subject: Why $700 Billion?

Where did that figure come from? Why does Wall Street need $700 billion? Why not $500 billion? Or $100 billion? Or $10?

The cynic in me says that George W. Bush – who has presided over the biggest expansion of government since World War II – asked for almost as much as the Iraq War has cost so far. He probably figured that Congress would open the wallet.... again. And he is probably correct.

Until somebody can explain to me, in plain English, the bad consequences for me if the bailout fails, I refuse to be scared by the doomsday rhetoric. The only thing we have to fear is fear itself. The last thing we need is a President who runs around like a chicken with his head cut off, like John W. McCain.

If Wall Street is having trouble brought on by greed, waste, fraud and lazy government oversight, well, so? Let them eat cake! Maybe it is time for new financial markets.

And, Goodness, let’s remember those who supported this