The Bailout Plan

I'm pretty bummed that I've been crazy busy lately and unable to post here as we go through what will likely be the most (or at least one of the most) memorable financial events that we'll see in our lifetimes. I'm encouraged that today it sounds like a deal has been struck that we can move forward on. And, yes, I said "encouraged," meaning that I am in support of the plan.

I'll keep it short and sweet, but here's how I feel about it. When somebody is sick and has an elevated fever, the first step is to treat the patient's fever so that it doesn't kill him before you have a chance to treat the underlying sickness. The financial system is currently burning up with fever and the Treasury's plan is aimed at bringing that fever back down. It won't fix the underlying problems that need to be addressed in the economy, but it will help quell the panic and allow us to address those issues (hopefully!).

Rather than try to reinvent the wheel, I'll direct you to this article from the AP that talks about the potential winners and losers from the plan being pushed through. I have some slight differences in places, but overall I like what they've said.

Tomorrow certainly will be interesting!

-AvgJoe