Bailout Or Ripoff?

Our members of Congress are in a real hurry to act on the crisis we face in the global economy. However they aren't sure if this record bailout as they call it will even work. We are being told this hard to comprehend trillion dollar deal is designed to rid the banks of the bad debt they are holding which has created a freeze on the ability to borrow money.

If this plans works, our economy will supposedly begin to work again. What this means is the banks, or should I say the greedy powerful people who ripped of millions of Americans will be able to make their millions again. Meanwhile, we the people are sitting on all that debt.

What got us to this point, is the lack of rules or rules being ignored. The republicans call this deregulation, I call it STUPID. Imagine football without rules or any sport without regulations in place. Well it's the same in the financial markets; without rules anything goes. The result of this mindset has helped wealthy investors and managers of large corporations make tons of money at our expense.

Now we are about to let them off the hook and get stuck with the bill. Well I have a common sense solution to this crisis. If this historical move really helps resolve the problem and companies who are holding this bad debt can once again make money, WHY NOT HAVE THEM PAY BACK THESE DEBTS WITH A PERCENT OF THEIR PROFITS? Eventually, they will pay back the entire bill! Is this idea to simple or am I missing something?

We also need to provide homeowners, who were suckered into these floating rate mortgages the ability to convert to fixed rates that keep them in their homes. IT'S GREED ONLY that is preventing this from happening. These same rich powerful people who created this global mess can't bare the thought of making less money can they? Well maybe it's time they do!

The Republicans and Democrats need common sense when resolving this, I just wonder if they have any.

Aloha Mike