Why we have no choice but to pass the "Paulson Plan"

The bailout package presented to Congress, which Congress defeated on Monday in order to punish America and the world at large, is absolutely essential to all of us. Let me explain the dire and urgent need for the plan to pass when it comes to re-vote this Wednesday.


The Problem:
We will deal with some of the culprits pictured above later. As of right now, banks across the country have stopped lending money to just about everyone.

Why?
Every financial institution in America is attempting to hoard cash to battle huge runs by their large account holders (especially those who have more than the FDIC insured 100K). Having unsuitable cash holdings has already shredded: Bear Stearns, Lehman Bros, WAMU, Wachovia, Merryl Lynch, AIG, Indy Mac, Fannie Mae, Freddy Mac, and more. Local and Regional Banks are all at risk of FDIC takeover as runs continue on their cash assets.

How the plan will help:
The 700 billion dollars can be used to create a transparent market to buy mortgage assets that have no current market and no current buyers. Private and Institutional investors have given up trying to buy mortgage assets originated in the past 5 years, therefore nobody knows how much danger banks are in that hold those mortgages because they can't be accurately valued (It takes a market to set a price).

How it screws up your perfect little life:
RIGHT NOW small and large business can not get loans needed to buy seed for farm, inventory for retail, or personal loans of all types - like the one you need so you can send Betty Sue to diesel mechanic school. The Christmas retail season will be met with pink slips instead of product in stores. The credit crunch will force huge layoffs in huge numbers because business in America and around the world will seize up along with their credit. Then the real pain will begin as demand for everything disappears along with your job. This will badly hurt every person in America from unborn (or un-aborted) fetuses to illegal immigrants to Wall Street CEO's.

The misconception: "This is just 700 billion for Wall Street Fat Cats" - Joe Sixpack.
The plan does not bail out Wall Street. Trust me - they have been in pain all year. This plan should cost taxpayers nothing and will return a profit if handled with basic care. This plan will help stop foreclosures as the Federal Gov buys distressed assets and holds them until they appreciate in a few years. This plan allows taxpayers to actually dupe Wall Street into buying these assets back in the future at higher prices then the current bargain value. Joe Sixpack can turn a profit and he can do it with money taken from rich people who pay nearly all of the taxes to the Federal Gov. to begin with. That is the briefest I can do it. Now- stick with The Plastico for updates, more importantly don't eat at Baja Fresh anymore because they keep shrinking their freaking burritos and cutting them in half is not fooling me whatsoever. Seriously, this looks like a bloated taquito.