Senate Bailout National Bank and VP Debate

Okay, tonight is the first and only vice-presidential debate of this campaign. Needless to say, we all have to watch. Will Sarah Palin continue to be as nervous as she has been with Katie Couric, or from behind a podium will she get her act together, talk about what she knows and admit the areas where she has limited knowledge?
Will Joe Biden be able to answer briefly or will he let his mouth run on and on and get him trouble?
This could be really entertaining. And - let us not forget, that one of this pair could be a heart beat away from being our president someday. Take some time to consider that prospect.

Last night the Senate passed the bailout bill. Big surprise. What upsets me is the concessions that were made. The tax break for the rich is extended - tell me why you voted for that Barack Obama and Joe Biden. The amount of cash that can now be insured by the FDIC was raised to $250,000.00. What no one said is that the banks will have to pay for the additional insurance. Wonder where that money will come from? Tax breaks for homeowners with foreclosure woes are extended until 2013. Small business owners with five employees or less are getting some kind of break, and no doubt somewhere in the fine print are a couple of "entitlements" that we will be paying for.

Somewhere it says if the loans aren't paid off the president will be able to take action. I will need to find the bill and read it to see if the president really has any power.

I am skeptical about the whole thing. I think the government should have opened a National Bank with this money and started making loans to those who qualify. Frankly I do not see the need to help the banks who let greed and stupidity be their guide. Let's have a National Bank, Congress, as the board of directors, can make oversight into loans as tight as they want without worrying about any one's feelings.
Since the President is the bank's CEO we do not have to worry about any golden umbrella, the job is covered by his salary. We the people are the share holders, so maybe we will receive some dividends on our investment.

Treasury secretary Paulson put everyone in a panic mode. Loans are tight and banks are afraid. Too bad. There was no oversight for their idiotic reasoning that housing prices would continue to climb to unrealistic heights and that they could make loans to anyone who walked in off of the streets. The banks are paying the price for their greed. They should be happy that their executives are not being sent to jail for the mismanagement and attempted robbery of the American public.

The Senate's bill just let's the status quo continue. I thought that Obama and McCain both promised to change Washington!! Looks like business as usual to me.

Let's create a National Bank. It will have branches is all 50 states and territories. It will provide employment. Loans can be rigidly investigated and controlled. With the president as CEO and Congress as the board of directors there will be no need for fancy salaries or perks. They will be doing their job protecting the American citizen. We, the tax paying citizens, will be the stock holders and with good management we should all see dividends.

This makes more sense to me than simply giving money to banks and trusting them to do the right thing.

Its Common Sense.