Wonder what is next!?

I read this article on Statesman.com about the bad mortgages and bank loans. Here’s what I think. The Bush administration asked for approval from Congress to take over bank assets and other loan organizations, he wants to hopefully have it done by next week. As all of this plays out, take a look at what happened these past few months. Just the other day the stock market fell the most sense the Great Depression, and foreclosure rates are the highest in history. Bush wants congress to buy $700 million dollars in bad mortgages which is the biggest bailout sense the Great Depression. Which in turn sets our national debt at 11.3 trillion dollars (just what we need (and yes that’s sarcasm.)) What the government gets for this, we don’t know that yet, but the administration says that’s its necessary. Bush assures that money in traditional checking and savings accounts are fine, and will not be messed with. As for what happens in the near future, looks like we’ll soon find out.

http://www.statesman.com/news/content/shared-gen/ap/US_President_And_White_House_Advisers/Bush_Markets.html