To bail or not to bail...

I've been mulling over, silently listening to the debate from people around about this supposed bailout plan.

Being an economic populist, I tend to not support any bailout if the people who made their sweaty, bloody wads of cash on the backs of poor American middle-class workers are the ones being given the real life saver here.

I was always told we live in a capitalist society, the "market will police itself," none of which I have bought for years (see Alzheimer's President in Chief).

My heart and my liberal ego who wants to effectively push the shit into the face of the puppy who just shat all over the place, wants these firms to flat-out go belly up with the big CEOs taking home literally peanuts for their effort.

But, my brain, the logician part of me, knows better. He knows that despite the moment of victorious rejoice will be fun to watch, the aftermath will be so brutal on the people getting really screwed, my heart would ache.

Listening to the McLaughlin Group as I do most Friday nights on PBS, I couldn't help but sneer at Mort Zuckerman. While he knew better months ago and moved his holdings away from danger and into literally cash, he towed the line that we must give these companies a life boat. Bailing out the two F's was essential, as was AIG.

I sneered because ultimately, I am smart enough to know how stupid I am when it comes to understanding how an economy of our magnitude really works.

That said, he nor Paulson know either for sure. When Rep. Richard Shelby (Repo) cae out swinging his signed paper of over 200 economists from MIT, etc, etc that was the clearest evidence yet that no matter how smart an economist might be...NO ONE has a freakin' clue as to what will happen in this time of turmoil.

That alone should freak American's out. While Paulson seems to be an honorable, and truthful figure (one of a few in the Dubya years), I still am not sure he is right. Moreover, for them to suggest we hand them a $700 billion blank check without some ties to it, is frankly...moronic and preposterous.

I support a bailout of limited proportions and with some serious strings attached, because it sadly, only appears to be the rational thing to do at this juncture.

Finally, a side note. Do not let the right-wing talking points fool you: The lending of money to people who were/are poor for buying a house is NOT why we are in this crisis. Historically, since that policy was instituted in the Clinton years, the lower income people have been the most reliable re-payers of loans in America.

It was not these low income people who sunk this economy...it was those middle class Americans who had the more than adequate ranch house for their family, who just couldn't help themselves but reach above their heads for a house they really couldn't afford because why?...THEY SIMPLY WANTED IT. It was those people who had a good sized house for their family, who got greedy and took out a 2nd mortgage to "buy" a beach/summer house.

These are the greedy bastards to blame...it's clear that low income people know who they are and are willing to live with that, it's that upper belt of the middle class who can't stand living within their means because of their greed. These are the people who should also pay. Let them keep their main house, but they should forfeit that 2nd house outright. And they should be ashamed of themselves.