Thank God the bailout failed

The bailout plan would do nothing for the backbone of the Obama campaign, minorities and young people. It rewards those who were fiscally irresponsible, taking out mortgages to buy homes they couldn’t afford. It rewards banks that thought “mortgage backed securities” were good ideas. It punishes people who save 10% of their income, stay out of credit card debt, and put money away for retirement. They could use $2300, and they would do great things for the economy. Either they would pay off any credit cards the do have, or they would spend it and help the economy. Thanks to strong grassroots efforts, average Americans convinced their congress to vote no on the bailout, over President Bush, BOTH candidates, House leadership, Secy. Paulson and Chairman Bernake. This crisis is because no one let the dot-com bubble finally burst. Instead, that was propped up by low interest rates that caused the housing bubble. The market needs real correction. Unfortunately, without responsible fiscal policy, there will be crazed market bubbles, and when they burst, they can be painful. Democrats and Republicans were right to reject this bill. Barack Obama should listen to the voters, and help them instead of those “special interests” on Wall Street that he so often demonizes on the campaign trail. When the Dow gets really low, remember, Buy Low, Sell High. Not, Buy High, Get A Bailout When The Price Drops

www.stopthehousingbailout.com