A thought about the "bailout"

Ok, I hear that there are a lot of people that are against the bailout. They think that somehow, 700 Billion dollars will have to be taken directly out of their pockets. I'll admit, on the surface I have these same feelings. I have a lot of anger about having to go through this at all.

But let's face it. If this fails to go through, you, I and every other American will be much worse off than if it passes. This deal has to pass. A solution has to be implemented.

1. Do you want to buy a new or different house? You won't get it unless this passes. I don't care what you think you can afford.

2. Do you want a new car? no luck with a balance sheet like yours, you'll need a credit score in the 700's to afford that.

3. Have credit cards? Get ready for the big recall and cancel because you are not a good enough risk unless you can prove that you don't need the money and won't ever use it.

4. Like your job? Companies won't get credit easily either and unless your boss is sitting on a huge pile of cash, you may not have that job much longer.

5. Cash is king. If you have it, you can spend it. If you don't, you'll have to learn to do without. This won't be too hard for you if you fondly remember college life and Ramen noodles.

In other words, unless wall street gets some "charity" main street will likely get a first hand lesson in exactly how tightly integrated wall street and main street really are.

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