Hundreds of Billions of our tax dollars now going to pay for Toxic Loans

Right off the bat government should not be allowed to bail out failing companies. Instead of creating a new agency with a bloated bureaucracy just take away from government the power to take money from you and me and buy loans like these. No one would touch these loans with a ten foot pole, unless given something back in return, like a fifty thousand dollar loan for only ten thousand. Even at that maybe no one would buy the loan from the Feds. If you do not know how I fell about this well I will tell you, this bail out violates free market economics. An economic system based on the survival of the fittest cannot have government, with taxpayer money bailing out bad loans. If you are a bank that loaned someone money that could not pay it back then guess what, that bank deserve to die off. Failure is like a bayonet in the back, you either move in the opposite direction of the failure bayonet or the bayonet stabs you in the back. Failure as a punishment is a great motivation to succeed. The is a risk reward to everything, high the risk high the reward. If a bank makes high risk loans then there is a chance for high reward, but also high lose like we see now.

Lilwonders,

My take on this may surprise you but does anyone see the more prevalent danger in all of this? This is how most socialist/communist states begin! That's right, the government becomes the provider and the people are at its mercy! This has to be stopped NOW even if we face a depression far greater than the early '30s!

I think it is not fair. Absolutely not fair! America was, even after the 9/11 attack was still doing well in economy. Although the stock market went down after the attack, but it is still manageable. The biggest turning point is when suddenly the genius plan of George W. Bush to start a war in Iraq. Ok lets get to the most logical point in this issue; 1.) Iraq has nothing to do with the 9/11 attack! Everybody knows it, and everybody knows that the only reason why George Bush implemented this plan is to get Iraq's oil source, and to tame Saddam because Saddam is so stubborn and wouldn't surrender their country's oil. 2.) The war is pointless! every year there are thousand of young and brave US soldier die in Iraq. They though they are fighting for their country but the fact is that they're fighting for oil all along, just to make the US oil magnates even richer! Send them home! 3.) No result! Until now 5 years after the deployment of US soldiers in Iraq, but until now there hasn't been any positive results with the deployment of soldiers. There hasn't been any nuclear weapon found in Iraq! It was a big fluke! 4.) The most related thing to this topic... The US budget spends billions on the Iraq war. Actually this is the biggest reason why the US sees some hard times lately. The US is in debt because of the pointless war. The whole world knows it and that's why many are hesitant to invest in the US these days. So there's a chain of events going on because of the Iraq war mistake. And the problem is not just the US people that are victims here. The whole world is going crazy with the current bankruptcies of the big US investment companies.

People are talking about it being a "necessary evil" on tv, but their tones are strained. I understand some people feel it's like buying time, but so far most regular people like us input I've seen in unanimous. Government intervention is bad and could lead us down a very dangerous path as a free country, it's also morally wrong since we are encouraging bad behavior which may hurt so many people and already has hurt people. It's like saying, "Go ahead and do this to us again".

Plus, it's something of a double standard. They wouldn't come save us citizens from our financial woes...but they'll save some huge multi million dollar corporation, some of which have had greedy practices and huge problems with corruption.

What will they do if their -maybe- turns out to be a 'definitely not'? There's no turning back after this, whatever comes after will be the problem we all have to work through and solve...and none of us knows where that leads us to.