The bailout will be voted on soon after the Senate passed the bill onto the House last night. This is round 2 of the the bankers bailout. When you think about how this legislation started, with Treasury Secretary Paulson writing a piece of legislation that would have given himself dictator powers over the money system of Americans, it makes you stop and wander what the hell is going on here.

Fear mongering is running high gear on TV and from the administration. You have to wander why? The market tumbled a little after the first vote down of this legislation. Yet, the next day it climbs. Today, waiting on, yet another government intervention, the markets slide a little. Has it ever occurred to people, that maybe the markets are dropping because they are anticipating the government dumping a ton of loot into the market? Could the markets be sliding because dumping a ton of money in would actually hurt it? Or is it really going to matter?

The legislation as first written was 6 pages. Rewritten and then voted on,  it was 106 pages. As of today, it is 451 pages. Now, I ask you this, in less then two days someone has come up with 345 more pages of legislation. In two days it is hard for most of us to write ten pages of blog entries. Yet, a group of people get together and supposedly debate for many hours and a day and still have time to come up with 345 pages. Something smells absolutely rotten here to me.

Reading through some of this legislation, I interpret this bill as still putting too much control over the economy in the hands of one person, Paulson. That to me is scary. Especially when that money is going to benefit a company he use to run, The Goldman Sachs Group.

How can you seriously fix bad debt with more legislation? How can you profit from bad debt that no one is going to buy , except for naive politicians?
This bad debt is unsellable now on the market. What is going to give it any value if the United States buys it?

For Americans to break even on 700 billion dollars, by buying this debt, granted there is no interest owed by the banks when we buy it from, and at the current suggested rate of return, by one representative, of one million a month, it would take 63 years to recoup the debt and not make one cent on it! This is a good time for sarcasm: Sounds like a great investment to me!

I hear people are worried about this so called credit freeze on the market. No one will be able to buy cars because they can't get a loan. No one will be able to pay their employees because they will not be able to get a loan from a bank for payroll. If your company is not profitable enough to pay the employees without taking a loan, I would suggest you get out of that company quick because they are not financially sound. My company has over 42 billion in cash not including assets. They do not take loans to open new stores or buy other companies. They pay the employees with the sales they generate each week. I am sure small business owners, since they have a hard time getting loans in general, pay their employees with the money they generate from sales or services collected through the week. So, where's the harm in conducting business within your means?

As the Senate majority leader, Harry Reid, gave his speech, I had to wander what was going through his mind when he stated they could have spent this money on education, bridges, or infrastructure? I know what was going through mine and it was not pleasant.

Call your Reps and send emails. This legislation is not going to fix anything. You might see the market get smooth for a couple of weeks or month if they pass it, but in reality they are just postponing the inevitable! Just take a look at Asia today.