Much effort will go into making political hay from the current Wall Street bail out. It is all pretty sad. The same political pond scum who coerced the financial system into making home loans to individuals who couldn't afford them are now trying to blame the folks who wanted traditional standards upheld. These creeps are absolutely shameless.
I hope the government bail out makes the banks and other holders write down the shaky loans to something like their real value before buying them at that steeply discounted price. If that happens, then there will be pain for the perpetrators as well as for us taxpayers. Unfortunately, experience has taught me not to be sanguine about this outcome.
