the federal bail out plan

Okay, I have been listening to a lot of people, and since I got my new car, I have a lot more stations to listen to on the satellite radio. I listen to the Wall Street Journal station most of the time on the way home.
At first, I saw it as the government overreaching into the private sector once again. You know, just another form of welfare, but for the guys that don’t really need it. One might call it “trickle down communism”.
But (and I might be drinking the koolaid on this one) I think it will help Americans in the long run.
True, people who should be punished for such poor business decision making should be cut off from the federal funds.
This is actually an investment by the federal government. We are actually buying commercial paper (bank loans) that still have to be paid back. The federal government has the ability to enforce the payback on these loans by referring deadbeats to the IRS. An unpaid loan becomes income that was never reported subject to back taxes with more interest.
A lot of this money can be recouped by the eventual repayment of the loans or by the government foreclosing on the property itself.
It is not meant to bail out the person who does not pay his mortgage. It is supposed to unclog the credit system so they can make good loans and keep the economy fluid.
I am still not entirely sure. I really hate it when the government gives tax dollars to other people for charity. They are trying to sell this as an investment. Maybe so. Ann Coulter is not much help on the cure; she’s busy making sure everyone understands that a lot of this mess belongs to Billy Clinton.
I guarantee you that this country will go down the drain without even swirling of Obama gets elected.
What do you think about all of that?KLH