CONGRESS SHOULD REJECT BUSH/PAULSON PLAN TO BAIL OUT GOLDMAN SACHS & MORGAN STANLEY

Congress should refuse to go along on the 700 million + bailout of financial firms like Goldman Sachs and Morgan Stanley. These investment banking firms made bets that could have brought them billions in profit. Instead, the mortgage markets went against them and now they stand to lose billions.

Just as the government does not bail out individual investors who make the wrong call, so too the government should not rescue these Wall Street firms.

Furthermore, no one in the Bush government has been ready to lend a helping hand to the millions whose homes either have already been foreclosed or who now find themselves in foreclosure proceedings.

Congress, turn down the Bush proposal. Let Wall Street firms work it out themselves. Don't spend tax dollars rescuing financial firms at the same time that the government refuses to help the homeowner in foreclosure peril.