EARLY REACTION TO BAILOUT

BEFORE CONGRESS JUMPS TO APPROVE THAT 160-PAGE FISCAL BAILOUT PLAN, THINK A MOMENT:

GLASS-STEAGALL:

The law that stabilized markets and separated banks from brokers during the Depression resulted after two years of debate.

DOLING OUT MONEY:

Placing $250 Billion under the eyes of some of the same incompetent bureaucrats who were asleep at the switch in the first place is better than $750 Billion. But like the strategic oilreserves, Federal Reserve currency and debt trades, and sealed indictments, do not tell the public until (1) after the distributions are done and (2) after the U.S.markets are closed. Exactly what we do NOT need is another level of variables for traders to use for speculation to de-stabilize markets.

GRANDPA HERMAN SAID 'YOU NEVER GO BROKE TAKING A PROFIT.'

If crappy mortgages actually pay back more money than anticipated, if defaults and foreclosures slow, if banks sell off property at higher prices next year, if,

if,

if --

if ------------

the taxpayers are entitled to money from this experiment; PAY ALL PROFITS INTO THE SOCIAL SECURITY TRUST FUND.

Those of us who have begged for the same taxpayer retirement given members of Congress, one in which self-directed (not 'privatized') funds-- like a 401k encourage workers under 30 or 35 to start investing in their national corporations for their future, have lost. I doubt I will ever see aprogram suchas Spain or Chile, where retirement is tied to long term quality equity and not T-Bills, Bonds, and Notes.So, if part of the de-regulation, re-speculation, and uber-exuberation of markets has been the huge decline in IRA's, 401k's etc meant to AUGMENT Social Security for retirees,let's pour profits from the "bailout" into a solvency fund for Social Security.

and...

TEETH NOT GUMS:

As I have posted previously, first offenders who violate lending, mortgage origination, marketing and packaging rules need stiff fines and likely jail for a first offense. Since Wall Street felons re-invent themselves and make more comebacks than BritneySpear's navel, for a second offense make prison time mandatory and no chance of parole for five years. The same thing goes for whatever convoluted and lobbyist-favored short sale rules Mr.Paulson comes up with for his former colleagues.