I’m reading more updates every hour, so I will keep you posted as I know more, but here is what I have learned so far.
This bailout is for the government, or actually the FED, to have an open checkbook to purchase toxic assets. Purchasing these toxic assets will help the credit market bounce back and hopefully restores confidence in our markets. There is no data on how much they will pay for these assets.
This is all about bailouts for major companies, not common people of the United States. I’m strongly opposed to this bill unless they clarify what they are going to do with the money. I'm not for bailing Wall Street, but I'm for helping out mainstreet!!!