The Bailout Tab- now 1.2 Trillion

[DrCap]

Here's a nice summary of the recent bailouts, total now at 1.2 Trillion, with a T.

http://www.cnbc.com/id/26808715

[Pete]

Great article. I just referred to it in composing a letter to my electeds, to wit:

Senator Brown
Senator Voinovich
Representative Kucinich


September 22, 2008


Depositors and investors are protected by the FDIC and SIPC, and as these
organizations provide federal guarantees permitted by law , it is
acceptable to fund these entities.

However, the proposed bailots of private FNMA, FHLMC, AIG, JP Morgan's
buyouts of Lehman Brothers and Bear Stearns, and the $700 billion
checkbook for purchase of various bad debts are unconscionable. The
federal government has no obligation to innoculate these businesses from
their own bad judgment.

If confidence in the dollar is to be rebuilt, let it be from juducious
fiscal and monetary policy and not by creating fiat money to rescue these
miscreants, thereby burdening American citizens with their debts.

Sincerely,

me