Wall Street 700 Billion Dollar Bailout

The $700 billion dollar Wall Street bailout failed because the American people wanted it to fail. Members of Congress were getting calls 100 to 1 against this bailout bill getting passed. Why should the American tax payers pay for bailing out some rich bankers who caused this to happen in the first place?

Treasury Secretary Henry Paulson Jr., Federal Chairman Ben Bernanke and President George W. Bush are now all reacting to an economic crisis that they knew was going to happen a few years ago and did nothing about it. Now they are trying to tell the America people that the 700 billion dollar bailout is needed in order to save our economy.

I don't understand what the Federal Reserve is going to do when they buy out all the bad loans? Is this going to give the American people back their homes that are in foreclosure? It would make more sense for the Government to bailout all the homeowners who are in foreclosure so they can keep their home.

Then again it has always been about the Big Corporations and rich people that get bailed out and not the little guy like you and I. It's always about the Big Corporations and Investment Bankers because they are the ones who finance campaigns.

This administration needs to prove to the American tax payers how this 700 billion dollar bailout is going to help them. What I would like to see, as I'm sure most American Taxpayers will also like to see, is the following:

All home loans that are in foreclosure be bought out by the Federal Government so that every ones homes will be saved; thereby not putting American tax payers out into the street.

Federal Government to provide low interest loans so that American people can catch up on their bills. Also provide them with free Debit Consolidation Counseling to get them back on their feet.

Decrease unemployment by bringing more jobs back to the USA and place restriction on foreign dependency in all areas that affect the US economy.

I'm sure most people would agree with me this makes a lot more sense than bailing out rich people. Getting people out of debit will also stimulate the economy by putting money back into business that is suffering right now.

So far, Paulson and Bernanke have not shared details of this 700 billion dollar bailout with the American people. Could this be because they know that we will not agree to it? Of course like everything else this plan will probably get passed anyhow, it's just a matter of finding the right people who will vote in favor of the bail out.