McCain will debate.

Just listened to Harry Reid ( Senate Democratic leader) go way overboard and blame McCain for so many things I lost count of them. This is stupid and folks should all be working in a non partisan fashion toward a solution.

Finally after skimming probably 100 editorial’s here somebody who gets the problem.

First off we are NOT bailing out Wall Street, we are bailing out America’s financial system, that made some huge mistakes. So far this bailout has cost the Fed $1.5 trillion. What Sovereign wealth funds and other US financial institution have tossed in easily bring the total over $ 2 trillion.

That $1.5 trillion is either going to come back and hit us as taxes or inflation. Probably the later. You will get nailed.

The following editorial doesn’t go far enough to Main Street, but it gives you an idea of the problem. The credit market is frozen and business is grinding to a halt. You don’t feel it now, but you will later.

It is by Ken Lewis the CEO of Bank of America and was in the WSJ.

Lot’s of you won’t like it because its coming from a bank CEO, but if someone like me who naturally distrust guy’s like Lewis thinks there is wisdom perhaps so will you.

The Fed/US government is the only institution that is big and strong enough to soak up the bad assets. The only alternative as Warren Buffett said is that we go over the cliff.

It is going to be very difficult for Main Street to understand why this works because they don’t see the blood on the streets and we are a totally reactionary society.

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