Buy the Loans

Treasury Secretary Henry Paulson’s bailout proposal stalled because it had an overbroad definition of the troubled assets. What the treasury plans to buy has to be trimmed down. The treasury does not need to take more risks with taxpayer's money then is necessary. If they buy only the mortgage loans and not the associated derivatives themselves OK. That is if the $700 billion dollar bailout bill comes up for a vote at all which it probably will. Actually I'd like to see the bill killed and let the chips fall where they may because putting $700 billion back into the hands of those who are responsible for this financial fiasco in the first place. Mr.Henry Paulson Jr.,for instance, the current and hopefully not long to be US Treasurer, a former Goldman Sachs CEO, and it is simply absurd to continue trusting him. He's a billionaire with friends up and down Wall Street not Main Street. If putting $700 billion dollars into the hands of those who messed it up in the first place, hoping they can fix it now is realistic, maybe somebody smarter than I can explain it to me.

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