The Bailout:
The following is a response I made when the bailout idea first came to light.
  I was on 550 AM WSAU this morning and we were discussing this issue and thanks to the callers I have formulated what I think should be done regarding this situation.
What we are seeing is the result of congress messing with the free market. In the 90s there was a huge push to help people to buy their own homes. Congress partnered with Freddie Mac and Fannie Mae to remove those hurdles that prevented people from getting loans. Contracts were made simpler, down payment requirements were lowered and interest rates were kept low. They felt that this would boost the economy.
Today Congress is faced with trying to undo what they themselves caused. Fannie Mae and Freddie Mac were led astray by Congress and we, the taxpayers, will suffer for it.
If there were a plan, which could ease the potential damage this is causing, I would consider voting for it. Presently the solution they are trying to put through deserves a no vote.
A bill I would vote for must contain all of the following.

• A plan that does NOT salvage Freddie Mac or Fannie Mae
• A plan that does NOT bail out those who borrowed above their ability to pay.
• A plan that does NOT cover up the stupidity of Congress and their misdeeds in the first place.
• This plan should stabilize our economy.
• The plan should NOT create a government owned lending business.
• The plan should include selling off all of Freddie Mac and Fannie Mae’s assets, which should go to paying off their debts.
• The plan should include an investigation into illegal activities and those who are guilty should be punished, including Congressmen and Senators.
• The plan should include putting protections back into the law to prevent this from happening again.
• The plan should have no attachments or earmarks that do not pertain to the problem at hand.
• The plan should be openly explained and presented to the public a week or so before it is voted on, so that Congress and the Senate can hear feedback from their constituents first.

If this were humanly possible, I would vote for such a plan. If not, then I would suggest that we back out of the mess and let nature take its course. I am open to other suggestions and ideas, but at the present time this is my position.