Where is the Bailout Money Going?

OK, seriously. I was reading this CBS News article and was just floored that the overtone was to blame the Republicans. Lets take a walk down memory lane.

The Presidential election is in full swing. The Democratic leadership of Reid and Pelosi are working round the clock with the President to get together a bailout package that will stop the bleeding in the Financial Markets.

They have reached agreement and are ready for the Vote. Wait, what happened? Those Damn Republicans voted against it. Forget the fact that if the Democrats wanted it passed, they had more than enough in their party to get it done. But NO, this had to be bi-partisan. They all went into a rant and rave, the Republicans blaming the Democratic Leadership and the Democrats saying John McCain couldn't even deliver his own party. The Republicans and Some Democrats thought it was a bad idea all along. The Democratic Leadership swore that they wanted stiff Regulation and oversight.

"The original idea: Spend $700 billion in tax dollars to buy troubled mortgage-related assets from struggling banks. " - CBS News

"But the actual bailout calls for nothing of the sort. Instead, your tax dollars are buying massive shares in some of the nation's biggest and most successful banks - with virtually no strings attached. And that's all allowed under Congress' plan" - CBS News

Wow. The old bait and switch. I can't understand how talented News People like Katie Couric, wouldn't have been all over this from the beginning. No Way!!!

Now the Brain Trust in Washington want to do the same for the Automobile Industry!!!!

This is going to be a long 2 years.

By the way, the bailouts passed thus far including the Stimulus package round out to $5 Trillion Dollars. If you read my bailout plan (Click) I thought I would put some figures to it. If you took everyone who voted in the last election (124,286,041) and divided it into the $5 Trillion already, we could have all taken in $40,0000. Now that would sure help pay off my debt and help the economy, how about you?