Regarding the $700 billion dollar bailout: Americans don't seem to get (possibly because our clueless President hasn't explained it) that this bailout is chump change. It sounds like a whole lot of money to the average Joe but it's one of those little tiny band-aids in the band-aid box, just to tide the banks over. It's not going to cure or solve the problems of our economy and the stock market crash on Friday reflected that. There are dozens more banks set to collapse, and who knows what other ancillary businesses that were part of this shell game will follow.
After 8 years of the Republican philosophy of "winking at the rich", we're all in big trouble. The "Trickle Effect" that Reagan loved to espouse goes both ways. Welcome to the Trickle UP effect: the repercussions of ignoring a middle class that's been suffering since this administration came to power. Did you plan to retire in the next 5 years? If you didn't vote for Bush, I am sorry for you. If you did, then you're reaping what you've sown.
As my broker says: "Hold on to your 401K; it's going to be a bumpy ride."
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