[RKBA Democrat]

“Let’s put the $700 billion in perspective.”

Yes. Let’s.

This is a $700 BILLION wealth transfer from the public treasury to the incompetent nincompoops on Wall Street who started this mess in the first place. While we as taxpayers won’t have to make payments on this $700 BILLION this second, we as a country will have to pay for it eventually. Either through higher taxes, a dilution of the currency, or by passing it off to the next generation. Probably a combination of all of the above. And for what? So the markets can avoid a long overdue correction that is going to happen (gasp!) during an election year?

Socialism is socialism whether you put a Republican or Democrat brand of cheap perfume on it.

[Cold Heat]

Much of the 700B, and it may be more, will go to banks all over the country and globally who bought Fanny Mae securities in good faith,or CMO's based on mortgages and because of severe write downs, are now unable to loan money to anyone.

I have not even begun to list the numbers of things that the CMO's are used for collateral to fund. They also support the CDO's which number in the trillions of dollars, the building projects, the payroll loans and short term financing as well as lines of credit your employer may have.

This is not all wall street, and to be more to the point, it would not matter if it were, because it all will affect you directly in a very short time if not fended off now.