Financial Crisis - Bailout

After some thought about this I have decided I am not against the bailout of the financial market and I think I have a good reason. It was Congress' fault anyway. Congress passed all the regulatory laws requiring banks and lending institutions to make loans to people that really could not afford them, all so more people could actually own a home. I think that is a great goal, but it still has to be accomplished in a fiscally sound manner. Now that all those questionable loans are causing huge problems for the financial market, Congress should bail them out. Congress mandated the loans. Congress should help pay the penalty. That is why I am just as upset about the Senate balking at the bailout as I am at Congress for getting us into this mess. Congress should be willing to clean up its mess. And where was all this caution and concern, this need for details and accountability with regard to the laws that caused this mess?

What about the American taxpayer? Good question. This is the price of a representative government. If you do not like the results you get from the government, you need to make changes. You need to change the people being sent as your representative. I cannot say I follow national politics nearly close enough to comment on each representative from each state, but this is why we are supposed to be paying attention to what they are doing. Also, it seems to me that I keep hearing the same names over and over again, especially when it comes to Senators. Yes, I think term limits for Congressmen and Senators would be a good idea, but we the people need to make sure we hold our representatives accountable for their actions.

As a side note, I was watching the second half of the big English Premiership match (soccer) between Chelsea and Manchester United. Manchester United's major sponsor happens to be AIG, and the commentator for the match, an Englishman, made the comment that Manchester United was more consistent and/or technically sound than its sponsor. I cannot get away from financial commentary even during a good football match. The match ended in a 1-1 draw. I wonder if there is a good financial comparison I could draw?

UPDATE: Here is a similar article from David Limbaugh at Townhall providing some good information and background.