No Bail-out for Wall street

Eventually, as we all know, the s*it hits the fan.  And it did!  Wall street came to a screeching halt, that totally messed up the UK and other European markets, banks stared to fold right and left, and just like a few weeks ago (which I think it might have been testing the waters), the government proposed to step in and save the day using someone else's money - yours and mine.  

So, you figure, well, sometimes governments need to do that, for the common good.  They step in, infuse all sorts of (*our*) capital, end up with all sorts of equity (on *our* behalf) and then, if things work out, they (and *we*) get something in return.  But no, the original version of this ingenious plan didn't call for any equity or any other ownership.  It would simply buy the *bad debt* from those failing institutions... and the what?  Oh, I forgot, in 5 years the government would re-evaluate the situation and see if there was any windfall to collect, and *at that time* come up with a plan for repayment.  Are you kidding me?

I think the American people are waking up to what is going on, which transcends political party affiliations...  They (politicians and big wigs on Wall street) are all interested in a free ride.  All willing to take the credit for something going well, and nobody willing to accept responsibility. Sounds all too familiar?  Well, it is.  It's happening every day.

I don;t want to bail out the investment banks.  I don't want to bail out a million people that got mortgages way higher than they could afford and are now having their homes foreclosed. Most of them knew they were getting into something they could afford.  And, if they didn't they should have.   Why is it that "ignorance of the law" is no excuse in any legal setting, but in this instance "claimed" ignorance needs to be excused?   Why should I and the next persion have to work harder to now bail them out.  

Here is the Oxymoron...  A bail-out plan is proposed by Bush and his administration, Democrats are all for it and are pushing for its passage and republicans vote it down.  Is this ironic, or what...

And, the day after that, the dollar goes up against the euro by the highest percentage since its inception.

This is a weird world we live in.