Bailout Blues

Wall Street turns into Main Street quicker than you may think.

So lately the news has been logjammed with Sarah Palin and the $700B bailout. Although I’m close to my fill of re-hashed Palin clips (which, trust me, don’t get old easy). I have had my fill of the ignorance and mis-guided masses resoundingly telling their congressmen to vote “No” on the bailout bill.

Look, obviously I don’t have much sympathy for the fat cats on Wall Street, but to not want this bailout to pass is missing a large point. When the credit markets seize and the market crashes the guy who had a net worth of $500M goes down to $100M has to make an adjustment in lifestyles sure, but when it’s a middle class family taking the hit it could mean the difference between fine and foreclosure.

The pundit I have seen best make the points I think the American people need to hear coherently is Ali Velshi of CNN. Take a look at This clip where he explains just how the Market troubles will trickle down to you quicker than you think: (Sorry can’t embed because it’s from CNN, Still working on it)

If you watched that and still think that your local congressman should vote no. I’d love to hear your argument because I haven’t heard one that made sense yet.