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This whole bail out situation is of immense concern to me. It worries me that even when they take 4 months of debates, re-writes and voting to make a bill, it still often comes out screwed up. Now they want to rush a decision on something that will *initially* cost the tax payers up to $700 Billion.
This seems a lot like their solution to high gas prices. "Let's add some oil from the Reserves, that'll fix the problem." I see this as an extremely expensive short-term fix (if that even), and my major concern lies in the long-term.
From my research, I don't think the companies should be bailed out at all. These companies are getting way, way too big for their own, and my own good. They perform numerous acquisitions to expand their influence and in the end, the consumer pays higher fees with less choices.
Irresponsible lending and borrowing is what led to this current situation. The lenders and the borrowers made their bed, now they must sleep in it. At the end of the day, the average American will still be able to go down to their local Credit Union to get a loan. Because the CU can't tolerate has high risks as the larger lenders, then only significantly qualified borrowers will be approved.
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