When the $700b ‘solution’ was initially suggested my first impression was irritation, rage and annoyance. But in the past week or so, reading and talking about it, my feelings were somewhat reversed and I mellowed and simmered down. I came to the conclusion that this actually could lubricate the financial wheels and stimulate the economy. True, at the taxpayers’ expense, but has anyone a better suggestion without hurting our pocketbooks too much? The damage is done and there is no way back into history to put it right, but at least this will buy the bad mortgages held by many financial institutions and sold, hopefully, for a profit, at the same time allowing the institutions to start over healthier and wiser than before, and also, hopefully under the scrutinizing eyes of the feds. This is an exceptional situation that needs immediate attention and it should be on everyone’s priority list. I am not a Bush supporter, but I must admit, this bailout is a calculated risk and sounds logical.

Another alternative to this bailout may be: instead of taxpayers paying into it, what about Uncle Sam paying the taxpayers in the form of some reduced taxes? What I mean is to relieve us of some taxes, such as capital gain when we sell our homes; an incentive for the seller—I don’t know, just a thought.

It’s called ‘market failure’. Look it up.

There’s really no other way to read that than Ryan has realized that the free market has failed in this instance and the government needs to save it.

Or that the government F*’d up for 10 years by underwriting sub-prime mortgages through GSE’s, and threatening lawsuits to banks who wanted to give home loans in more stable housing markets. Fannie and Freddie were selling frozen sh*t painted to look like gold nuggets, while Barney Frank and Chis Dodd were saying, “don’t worry, the government has your back…why don’t you slap a AAA rating on that crap.”

Enough of this “free-market doesn’t work and Bush wanted to deregulate” meme. In fact, since JG likes to throw the word “liar” around so much, let me say, enough of this lie. The government created this problem, and now we may have no choice but have the government step in and try to fix it.