On Mar 22, 9:35*pm, "Ed Huntress" wrote:
"Wes" wrote in message

...

"Ed Huntress" wrote:

I don't follow what you're saying here. People were making millions
flipping
all kinds of crap houses. As for ARMs, the idea is that you refinance at a
fixed rate when the time is right. Only now you can't. It didn't look to
*anyone* that such a thing was likely to happen.

Enron once looked like a sure fire deal once upon a time. *I just do not
see
why government should bail people or companies out for poor decisions.

Well, they shouldn't. The reason they are is that the rest of us will wind
up paying more if they don't. There's a good analysis of it in this week's
_The Economist_. They say that the bailout will cost about $300 billion,
and, if it works, will save the rest of us about $1.2 trillion.

That's why we're bailing them. But Congress, the Fed, and the Treasury Dept.