So Many Zeros...

Ok, so I just watched Bush read what his speech writers told him to say to us so he would sound like a leader, and after that I started wondering: WHAT KIND OF SHIT IS THIS!!  I mean really, what is going on with our government?   I understand the need for this $700B bail out, I really do.  But why is it needed by Friday? Bear Sterns Fails almost 6 months ago and no one did a thing.  Even then there was talk of other investment banks failing as well and still nothing was done.  You would think there would have been a few people who got together and come up with some sort of fix, or at least start talking about a fix.  Nothing!  Everyone goes about the norm with the mindset that "they brought it on themselves".  Not one hearing on Capitol Hill, not one bipartisan panel to look into this or anything.  Just a Government bail out for Bear Sterns that we didn't think much of.  Then IndyMac blows up, one of the largest mortgage lenders in America.  The Fed takes it over, and again we all go about our daily lives.  Again, no one inside the Beltway says anything.  I guess they thought that everything was cool.  It might hurt a few people a little, but it's just a "market correction" and we'd all be high rolling again in a few months.  Last week, some of the most prestigious names on Wall St go down, in flames.   Lehman Brothers, Merrill Lynch, AIG, a small crash follows and here we are.  With all the PhD's and MBA's and big brains in the finical sector, not one person who could do anything about this saw it coming?  Really?!?  

Now that all of this has gone down, I guess the government decides now is the time to act, but why in one week?  The Bush Administration writes a 3 page letter asking Congress for $700,000,000,000 and expects it to pass through both chambers of Congress in one week?  I mean 3 pages! That's all they thought it would take?!?  Maybe it's just me, but I'm guessing 3 pages can't even begin to explain what to do with that kind of money.  I tell you, I just don't know what to say.  I find myself shaking my head in amazement and wonder throughout the day just thinking about this.  All of a sudden after this market turmoil going on for the better part of this year I find it hard to believe that this is do or die time.  At first I was thinking it wasn't needed overnight, but now that the bailout has been so over hyped, not passing the bill would lead to a crash.  It would become a self-fulfilling prophecy, and I'm one of the believers that not passing it would lead to Great Depression II.  With that said it has to pass, I just hope it has the proper oversight, accountability, and CEO compensation caps that many Americans are looking for.  I just hope that Congress and the Administration get it right this time.  But given Washington's recent track record on effectiveness and competence,  May God help us all!!