Please take a look at these charts and explain to me how this bailout is going to fix these problems. Everyone, rightfully is panicking and want to sign on to a quick fix which in essence is a bailout to those guilty of causing the problem. More after the fold.
If you think it will work and main street will be bailed out by purchasing worthless paper that is leveraged 30:1, then I really think you are being naive and reactionary...this will only worsen the problem and make the pain worse for main street....of course you have the right to your opinion.
We really need to open our eyes and see the big picture of our economy not just the chronic symptoms. We can't fix this with an aspirin. They have told us that this will cost 700 Billion and there are credible reports that escalate the real amount to be 2 trillion...why don't we take those funds and create a US Special Bank that will loan credit to deserving businesses and individuals and let Wall Street correct itself?
Link to economist article against bailout
Another article
Final article