Heres how the money comes down to the little people.

The credit market is liquid, it flows like a river, and it moves and is generated by currency trade.

Two days ago, the paper market stopped trading.

Period.

Right now the banks are going over their books, re-evaluating their loans and capital to ensure they have enough receivables to cover their operating costs.
Most are saying that they dont have the cash, and its because their loans are being valued at 3 cents on the dollar, they have lost a TON of cash, and they cant operate.

When banks cant trade paper, and wall-street cant trade currency, the credit market stops.

The world runs on credit. When that stops, your boss wont even be able to get a loan to pay you your PAYCHECK, let alone keep the business running.

The economy is on the precipice of a total collapse, something that we have never seen before, ever. It will be the complete loss of the US$ as a currency.

This bailout, as unethical as it seems, is necesarry to keep markets that are still alive, living and moving, to get the credit flowing again.

If we can keep enough companies alive for long enough, the $700bn will repay itself in productivity and interest, but it has to get moving, no economy in the history of printed / stamped currency has EVER stopped before, and the US economy is about to.

This is how serious an issue it is, I dont think many understand that.

Here you have McCain coming in and holding it to ransom to push through more of the same that got us in this mess in the first place, all to try and score some more points in the polls and avoid having to debate obama.

Its a disgrace, an utter disgrace that he is doing this.


Heres why Im not outraged about this bailout plan.

Letting companies crash in a market where they have screwed up, works in every situation, EXCEPT ONE.
And thats when the market STOPS.

If you let companies go under when the market stops, you lose the ability to jump-start the flow of credit, and you lose the economy entirely.

To put this in terms you can understand...the inflation in zimbabwe, and what happened to the reischmark in ww2....this makes them look like a mosquito bite in comparison.

The global economy is so closely tied to the US$, and if it stops, and falls...the WHOLE WORLD falls.
This is the most immediate serious crisis I can think of since the cuban missile crisis...its seriously bad.

But charliem i think the big reason people are against it is that last part claiming no oversight, no questions asked, no prosecution. I agree this is a terrible time that needs action but dont let fear drive you to make a serious mistake of trusting an administration that has done nothing but show how much you CANT trust them. I agree that if they fail we all fail but the congress should not be bullied into this typical my way or the highway approach. Its the peoples time to call the shots and we'll give the money if they meet our terms, its our way or the highway now. Yeah you might see that as not helping but in times like these i cant help think "Give me Liberty or Give me Death". If it means taking advantage and screwing over the people yet again or a full scale crash then let it come. The market will correct itself painfully and it will be painful enough to teach future governments to stop fucking over their citizenry.

Also I just want to say he is 100% right on this and its sad that the Democrat Miller is so blind not to see it. It is now 2 days after this interview and already the Republicans are preaching how they are trying to protect the tax payer and how the Democrats and Bush are in bed together. Democrats need to stop being so naive and so foolish to the point of stupidity cause the Republicans with as sloppy as they are still out maneuver them at every turn and if they play their cards right then YES they will hand all the blame off to the Democrats. I mean hell did anyone catch in the debate where McCain said America doesnt need another stubborn unbending leader like Bush (in reference to OBAMA)! Did no one catch this, its already begun, they are working in this whole twist on the story to show that it is the Democrats fault cause they are going along with Bush. It doesnt matter if the Republicans have for the past eight years cause American amnesia knows no bounds. It doesnt matter who is right or what is true, it will APPEAR that the Democrats are to blame.