A New Day With Little Change!

A little update on my previous article. Boy, do I hate being right about this kind of stuff, check it out . Well it seems there is a little more to this bailout bill than meets the eye, as to be suspected. Secretary Paulson stated today something that sheds much more light on this Bailout. He said that if Congress decided to define "Troubled Assets" as any assets in the US market to have problems, then the President would immediately veto it! Without this definition Sec. Paulson could in fact spend the bailout money on foreign banks. Now this may just be a stab in the dark, but my little theory I stated in the previous article on how the foreign banks may in fact decide at some point that they no longer have enough credit available to give to the US, so your own your own. These troubled times don't just stop at the US boarder it seems. It may in fact be said that foreign banks are in just as much trouble, and unable to sustain the loans that prop up the US dollar. So yes, if this bill passes without the definition that the money can only be spent in the US, then they would be able to sent all 700 billion bucks to Chinese, Japaneses, and European banks,if they so wish. Banks which the US has no control over. Which I'm sure you'll be happy to pay to help em' out.

Interesting article on the amazingly fast decline in the housing market going on right now in the South West. I just figured this was a pretty good follow up article.