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Unfortunately, the guy who came up with this new "bailout plan" is the kind of person who got us into this financial mess in the first place.
If he could divide $85 billion by 200 million, he'd realize that we could only get $425 apiece, not $425,000.
To be fair, or more accurate, maybe we should try $700 billion divided by 225 million adults. That would give each adult about $3100. And if we wanted to use the "different bailout" plan to give 1/3 back to taxes, that would leave each adult about $2075. Not bad, but still not enough. We'd still end up spending three times that in mortgage costs, bank fees, loan interest, bank cards, etc.
Don't get me wrong, this bailout is a huge mistake. There should be dozens of people getting fired, and many of them going to jail for all of this, but that won't likely happen.
And frankly, if it wouldn't collapse many other areas of the economy, I'd love to see these big problem companies like Freddie, Fannie, AIG, Lehman, Merril Lynch, and WaMu get exactly what they deserve: let them die and their horrible lending practices with them.
Sadly, it's too late for that.
•Michael Culletto,
Lindon, UT
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