Contessa Brewer is the absolute best at what she does!  Love her coverage of "breaking news".

No one actually knows what the situation really is. The Bailout would be a Bailout for what & whom? The actual market hasn't a clue in this situation.

It's based on overvalued housing occupied-those who haven't been forclosed on yet-mostly by people who can't afford them. It's a Ponzi scheme in my estimation. The Appraiser, the Realtor, the Mortgage Lender, & some others, didn't care as long as they got their money. If someone says you can have this house for no money down & you don't have to pay interest for years, with a balloon payment later that the increase in value of the house will take care of, it's heaven. They are trying to help me. In some cases not only was there no downpayments but they were given money on top of that to pay for the closing costs.
The only ones they were helping were those I mentioned before.

The Bailout was for Banks, Mortgage Companies, & basically the stock market. There wasn't any thing there that would help the owners who couldn't pay for the house get a second chance. Loans were made with no idea of the value & only the actual market can straighten it out by letting foreclosures, re-possessions, & even bancruptcies happen. And those repossessed houses will be re-sold: but at the first neither the buyer or seller will be sure if either one got a reasonable deal.

It took several years to create this mess & dumping $700 Billion on top of it isn't going to make it go away. Anyone really knowledgeable about housing & the normal free market would know that it will also take at least a year for it to start to straighen itself out. There is a normal cycle that occures regularly & it hasn't turned into a true depression since the 1920's. We've had corrections. But things haven't been so badly inflated like it is now that it will be pretty hard for the market to "shake itself out & get things straight".

Just read & look at the proposals for using the Bailout money. No one really has a clue what to do. They are guessing & hoping. And they are saying we'll just have to throw some more money at it if the intial money doesn't do it.  

Leave the market alone & it will eventually correct itself. That's the only way!!!

I just heard your dad recommended you buy gold. What happened to buy low, sell high? Gold is at one of it's highest prices right now, if and when the markets settle down gold will loose value. My dad bought my sister gold at $30/oz when she was born. Now that was a smart move, she sold it when it hit $600 and used it for a down payment on a house. This was a long time ago, but the principle still holds!

Why does Contessa keep talking about being easy on Sarah Palin? If by some crazy circumstance she becomes president , do you think Putin will worry about `going easy on Sarah`? Wake up Contessa and face the real world. You can still redeem yourself by owning up to the world as it exists,not as you dream it to be.

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