I hope they don't just throw more money at a problem that needs a cure, not a band-aid! Please make these big CEO's of the major lending institutions and banks more accountable!!!!!!!!!!!!!!

Well, seeing as it was the US gov't policies and in particular Greenspan that started the problem in the first place ... it makes sense that the US gov't is coming to the rescue.

We have seen 3 of 5 US investment banks that were leveraged to the proverbial breast turn them up, and the other 2 now have applied for banking licenses ... say goodbye to the former invesment bank. they no longer exist on wall street.

This "bailout" is far less about allowing the big CEOs to keep their jobs. It's more about keeping a financial system that allows you and I, joe public, the ability to make deposits and withdrawls, borrow money make payments etc. In otherwords anllow joe public american to carry on business as usual.... at a cost of course, but it's bett than the alternative.

Look at the alternative, The govenment after bailing out the Invesment banks that created the ABCPs leaves the rest of the world that actually bought these things to blow in the wind ... how is that fair? These pieces of paper do actually have a value, but since the market has been turned upside down noone wants them .... so the gov't stpes in and says we'll take them. We'll guarantee your cash and you can keep carrying on business. ten years from now when the US houasing market recivers ... and even before that when people realise that these pieces of paper are actuall backed by assets ... the gov't can sell them back into the system. GWB may actually have done a smart thing here ... I can't believe I just said that

This "bailout" is jsut the beginning becuase the investment banks from wall street did'n't just sell this paper to US banks, they sold to corporation across the globe and there is also trillions of derivatives based on these still around the globe ....

This was just step one. Other governments will be forced to bail out their banking system other investment banks will go "breast to the sky" . But it has to start somewhere. If the US doesn't step up to the plate with their $700 billion, no other gov't will. someone has to take the first step. just wait for the domino effect.