Ben Bernanke needs to calm down

Bernanke urges fast action from Congress

Is it just me, or are we rapidly becoming a Communist country. Seems like we’re picking up these banks and institutions faster then they can fail. Now, I’m all for a little Socialized Democracy, but when the Feds pick up a $1,000,000,000,000.00 tab, it’s starting to feel a bit more like government run/owned institutions.

It concerns me greatly that Bush, Bernanke, and Paulson are all urging that the bailout be passed through congress immediately without “[weighing} down a proposed $700-billion financial system bailout with unrelated provisions that would delay addressing key issues”. Some examples of the “Weight” suggested by house Democrats and Republicans are:

Limit executives’ compensation at the financial firms getting bailed out.
Bankruptcy protection for homeowners.
Corporate governance rules.
Foreclosure protection.

Now I’m no big city financial analyst, but it seems to me that these are all valid stipulations that should go along with the bailout. With Billions in Mortgages to be owned by the public, we should at least protect our own interests. Now that John Q. Taxpayers mortgage is owned partially by himself (as a taxpayer), why would he want to foreclose on his own home?

I see no reason that Congress shouldn’t delay this bill while sorting out it’s finer points. The last thing we need is more blank checks to be given to organizations that, quite obviously, had no idea what to do with their money.