Toxic Loans?

Okay, I admit that I am having trouble understanding the Treasury's plan to buy the Toxic Debt from the banks. If these are bad debts to begin with, how is purchasing them with my tax dollars going to work into a plus for me?

Isn't it the Toxic Debt that started the financial crisis?

Next question - are the banks going to sell these debts at bargain basement prices or are they planning to rip us off for as much as they can?

Finally, if the banks sell the Toxic Loans to us, do they guarantee that in the future they will stick to the rules and only make loans that are reasonable and fair? Or are we just opening them up to repeat what they have done in the past?

I have to be honest and admit that I do not have a lot of faith in the banks that approved ridiculous loans and then started to cry when they realized their get rich scheme fell apart because they allowed greed to blind common sense.

I need some real convincing to see the wisdom of the US government using my tax dollars as funds to buy the consolidated debt of several banks.

Why help these big greedy banks? Why not make funds available to little banks, who know how to loan responsibly and who will make a profit on our money in the long run?

The big banks got what they deserved. Why do we have to pay for their greed and stupidity?

I don't trust the banks to do the right thing. We will have to watch closely and be ready to call them to task immediately. We have to make sure that Congress actually becomes the watchdog they should have been all along.

Its Common Sense!