Financial Crisis….. Proud Owner of Banks

Today the US Government committed $250 billion of our tax dollars to purchase preferred shares of nine banks plus any number of others who wish to play. I think this is a good thing in light of the situation that we find ourselves in. In fact we as tax payers should make money on the deal. The problem is that we have taken a large step towards Socialism, and I fear it will not stop here. The Swap and CDO problem is not fully unwound; there are more casualties to come. The banks are rescued; next we will see insurance companies, and pension funds that need propping up not to mention the auto industry. They will have to be rescued as well and that means more tax dollars and more Socialism. The money is allocated, $700 billion, last week. What have our leaders done to us, our children and our grandchildren, and all so the fat cats could have a bigger boat, house and airplane?