The fat cats that lost their money yesterday were are parents, friends, relatives, neighbors and us. If you own a mutual fund, or have a pension or even an insurance policy it’s invested i a combination that is almost entirely publically traded stocks (insurance tend to have more real estate holdings, than other groups).
Sure the wall street types are losing millions, but that’s because they own securities just like majority of american families.
When will my retired parents need my help? When will my children’s education fund come back? When will my homes be worth as much or more than my mortgages (i put 30% down on 1 place and 30% on the other)?
Those who didn’t want the bailout, how much more can the private (vs $750 bill to public) sector take? Are you telling use you think what’s happening is less expensive than the bailout or is this about getting a pound of flesh from the financial industry or being a strict free marketer?
Bad things will keep happening for days, weeks, maybe longer. The comeback could take months, years or like the collapse of the japanese stock and real estate market in 1989, it could take 20 years.
So it’s really great how McCain supposedly supported this bill, he can’t get his party to vote for it, so it’s Obama’s fault.