The Bailout Blame Belongs To..

The blame for the need for a so-called bailout can be laid at the feet of the entire country. The CEO's who accepted bonuses of 7 or 8 figures are to blame for the need for a bailout. The Boards of Directors who voted to give it to them are to blame for the need for a bailout. Every stockholder who didn't show up at the annual shareholders meeting and complain about it out loud to the people who could change it is to blame for the need for a bailout. The banks that enticed people to take out home equity loans up to 100% of the value of their homes at a time when housing prices had charged too far ahead of themselves are to blame for the need for a bailout. Those who took out those home equity loans are to blame for the need for a bailout. The legislators who thought that removing the rules that helped prevent Professional Wall Street Insiders from stripping cash from small retail investors with short sales and other manipulative tactics are to blame for the need for a bailout. Those Professional Wall Street Investors who talk up companies they are selling and talk down companies they are buying are to blame for the need for a bailout. The retail investors trying to pick stocks based on a tip from a friend or a buyout rumor are to blame for the need for a bailout. Every voting age citizen who voted for people based on some fringe issue instead of their dedication to making the country strong by making the average people strong is to blame for the need for a bailout. That includes everyone who didn't vote, and it includes everyone who can't go down the list of problems facing their country, their state, their town, their world and identify where their candidates stand on those truly important issues. What I'm trying to say is that the current banking mess and the need for a bailout package to fix it are the fault of all of those people, and that means you, and it means me.

Let Those Who Caused the Bailout Mess Suffer

There are those who say that if we do nothing only the people that caused this mess will suffer. They are actually right. All the people I mentioned above will suffer. The company you work for will suffer. Your own business will suffer. Your children's school will suffer. Your state will suffer. Your entire country will suffer. You will suffer. While some politicians posture and point fingers, they are watching you head for a cliff at full speed. The time to take action is right now. We are at the point where we can still take some mitigating actions to lessen the impact of this crisis, but it is getting very late. Call or email your Congressman and tell her or him to vote for the bailout package RIGHT NOW. You are sick of politics as usual and you want some protection from the coming meltdown while it's still possible.

The Bailout Won't Cost $700 Billion for the Taxpayer

You've heard some of the smartest investors in the world say the time to buy is when the market is down. Well, guess what, mortgage debt can be purchased now for pennies on the dollar. When the economy picks up a little and the whole financial sector has a little more confidence that there won't be a giant collapse, that mortgage debt should appreciate in value. This is especially true if the holder of that debt is willing to work with the borrowers and lower mortgage interest rates, provide a one payment forgiveness policy, or take other measures to make it easier for mortgage holders who are in over their head to keep paying on those mortgages. Right now, you, the taxpayer are being given the chance to steal this undervalued mortgage debt from the big banks for pennies on the dollar. It's still likely that we'll lose money on the deal, but the eventual price-tag of the bailout package will be nowhere near $700 billion once the mortgage crisis stabilizes and we sell that mortgage debt back to the banks that survive.

We Must Defend America on the Home Front

We must act now, to save our banks, to save our houses, to save our jobs, and, most importantly, to save our country. It does us no good to have a strong and courageous military fighting to defend this country if we allow our economy to collapse and let other nations come in and buy up our entire financial system at fire sale prices. It's time for all of us here on the home front to do our part to defend this country. It won't be easy, it won't be quick. It's not something anybody wants to do, but it's something we all have to do.