>The House failed this morning to pass the President’s $700 billion bail out. Some people I talk to think it is a lesser evil that must be done, sort of like voting for McCain this fall. Others can’t understand why the government must bail out private businesses that have made poor financial choices. I think it’s similar to a mother continuing to bankroll an adult son and empowering him in his bad financial choices.
Dave Ramsey suggests contacting our congressmen and senators and telling them to change the “mark-to-market” accounting law and to extend insurance, but no loans. We need to let these guys know that if they allow the government to borrow money on the national debt, as Dave says, “in order for us to all go into the mortgage business a trillion dollars – you’re going to fire their butts and send them home.”
Sounds like a plan to me.