Bailing with a hole in the bucket

Guest blogger Murray says:

I know that you know it is not too comforting knowing that the same people who allowed this country's subprime mortgage crisis to happen are the ones that our government put in charge of fixing it. I also know that you know that they really don't have the slightest knowledge how to fix it. I also know that you know that this is really a bailout to the Wall Street high flyers and the sleazy investment banking business. Now they are adding the very bankers that caused the stink to the team assigned to fix the problem. It seems that once you're in bed with them you can't get rid of them. Kinda like bedbugs.

Since it's the subprime mortgages that are the basis of the problem I would think the first thing they would do is put a stop to making these ridiculous loans. They have not done this. Banks and mortgage companies are still creating such loans. You can go to google and ask for "low price no money down mortgages" and you'll find all kinds of ads for these kinds of loans. It's pretty obvious to me that if we don't stop loaning with no money down and bad credit the "bailout" will go on forever.You can even apply on line. Here are a couple of examples:

http://www.mortgage-helper.com/zerodown.html

http://www.forthebestrate.com/no-money-down-mortgage.aspx

OK, the damage has been done. Our astute legislators are throwing billions of our hard earned tax dollars all over the place. They say not to worry cause the are going to sell these worthless mortgage packages and they will get the money back. Why... they say we might even make a profit!! Well, let me tell you. IF THEY DO FIND SOMEONE DUMB ENOUGH TO BUY THESE WORTHLESS PACKAGES JUST WHAT DO YOU THINK THEY WILL DO WITH THE MONEY? Pay it towards the national debt? No, No, NO..... They will do the same thing they always do. THEY WILL SPEND IT. Folks, once they voted to spend that 700 billion, that money was spent never to return. That money can only be returned by you and I. The tax man cometh. If OBAMA gets elected it will come immediately. Find a way to protect yourself. Your first attempt would be to vote for McCain as feeble as that may be.

MURRAY