Paulson admits his asset purchase plan is wrong

I am 65 years old. I have been alone for
25 years. I have worked, worked,
worked..My parents gone for 30 years. I
have no house payment, no car payment.
House needs some work, car is old. I am
an honest real estate broker. Now my
retirement that I have saved all these years is 75% gone. Who is going to bail
out the hardworking, taxpaying citizens?

Where is Obama when we need him ???
If he was President this flip flooping would not have happened. He would carefully think things out before making those rash decisions. That num scull in the White House is useless.

@Al P.
unfortunately Obama is one of the highest profile supporter of this bailout bill.

Obama is as useless as most politicians.

My solution: The foundation is not the banking system, but what their REITs were based on: Home Mortgages.

$150 bn / 1.5 million foreclosed homes = $100,000 down on each home.

$10,714,300,000 for Personalized Debt Counseling Service linked directly to the banks to keep paying on their mortage. (1.5mln homes / 14 max clients per counselor)*100,000

Drops in employment and consumer spending is another problem.

Solving the Employment problem:
General Motors is Crashing? Let it fall, use the money we would use for GM to help Tesla Motors and Renewable energy companies scale up and take it's place. Pay the old GM workers to work on the construction of the new factories for Tesla SPWRA STP GE and others. If for some strange reason they are incapable of doing construction work, then give them temporary unemployment at a reduced amount until the new plants are built. Require the companies involved to go halvsies on the capital investment. In return for taxpayer investment, government gets non-voting shares in the company.

Consumer Spending:
For some reason our government doesn't mind giving money to the big boys, but I don't think I have heard any of them publicly consider giving it to "consumers." AiG spends $440,000 on a retreat, but it's a problem to give consumers money to spend? Isn't that what we want?

It seems wrong for any institution on the goverment dole, to have paid out or is paying out 1 million dollar bonuses. I know that in the case of Medicaid the goverment looks for any large tranaction such as a house transfer to a relative upto 3 years back and if they find they reverse the transfer and take the house or other asset , why are they not doing the same sort of thing here ??? if the exec does not surrender chcuck him in jail until he does , I am sure that getting porked by some lifer will get old fast