This does not add up?

November 26, 2008

The total on the whole bailout package is up to 8 TRILLION DOLLARS. Wow! Now lets briefly go over what has caused this to happen. Here are just the few;

- Bad Mortgages 

- Bad Unsecured Debt

- Corporate Debt that can no longer be written off.

So you see that the bases of the Crisis  is bad debt and consumers spending money that they do not have. 

Here’s my point, all week the US Government is discussing options to ALLOW and LOOSEN up qualifications for the general public to be able to obtain loans for auto, homes, and personal. WHAT! This is just flat out the most ridiculous decision! Like Jim Cramer said, “THEY KNOW NOTHING”!

How bout this;

- Tighten up on credit spending. (Our economy should not successful due to debt, but because of assets).

- Establish a third party handling the spend for corporate companies to control the bailout spending.

- Revamp the Sarbanes Oxley

That is just a start. Hope you can some what agree with this. Thank you for your time!

Joe Sobieck