Why so little detail on $700 billion bailout?

I am concerned that no one can coherently explain how this $700 billion bailout works.  All I keep hearing is “We need it and need it fast.”  Aren’t you as troubled by this as I am?

Someone (Paulson, Bernake, Greenspan, Dodd, etc.) needs to explain in terms the American people can understand:

**What is the essential problem–“illiquidty” isn’t a sufficient definition of the problem.

**How did we come to a figure of $700 billion?

**How does $700 billion resolve the current “problem?”

**Specifically, what is going to happen to “bring the money into the system?” What happens to the assets the loans are against?

**If this bailout only addresses bad mortgages, what happens to the people in foreclosure or soon to be in foreclosure? How do they benefit or lose from this?

**How does this bailout hurt America. [There has to be downside implications.]

**What would happen if these inliquid companies simply went into bankruptcy? Why is that a less desirable choice than spending $700 billion or more?

**What assurances are there that we won’t be back looking for more money in 6, 12, 24 months?

**What is the oversight plan? [“None” is not a viable answer.]

We need answers, not rhetoric.   Party affiliation doesn’t matter–this affects everyone.

What do you think?   Democrat Dave

3 Responses to Why so little detail on $700 billion bailout?

  1. Dawn says:

    I think the government should send all taxpayers a $250,000.00 stimulus check instead of the 700 billion bailout.
    Most taxpayers could keep their homes with a stimulus like that. Not to mention it would really stimulate the economy.
    What do you think?


  2. I think I prefer the free-market system without support from the government. Giving us all $250k doesn’t solve the problem….it creates one. Sorry….Democrat Dave


  3. Kurt says:

    I think, or at least I hope, Dawn was being facetious.
    I can answer most of those questions, but not in a sentence or two.


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