The Bailout (As requested)

Firstly, let me begin by saying not all investment bankers are bad. Me for instance, I'm not one of the bad guys. I do mergers and acquisitions, every once in awhile an IPO or two. We didn't create the credit crisis, in fact, we're more pissed about it then most of you non-banker folk because it has completely ruined our fine (extremely well paid) industry. So next time you're on the tube (subway) and you see a guy dressed in a nice suit don't mumble "hey there's one of those asshole bankers" because firstly we know we're assholes in general, but seriously, not all of us caused this mess.

So, with the disclaimer out of the way, let's talk about the credit crisis. I personally believe Congress has no idea of what they are doing. One female representative the other day called Treasury Secretary Hank Paulson a day-trader. Then yesterday it comes out that one of the many "add-ons" to entice votes in favor of the bill is the elimination of an excise tax on certain wooden arrow toys(http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNyvf3zNdo7o), come on now! We need to let the people who know what they're doing do what they need to do.

Now, Congress may not know what they are doing, but the typical American out there who is strongly against the bailout has no fucking clue. Get it in your heads people, we need banks. Think about everything that you do everyday, going to work, food shopping, movies, gas stations, strip clubs if that's your prerogative, they all require credit. Did Wall Street get us into this mess? Yes, no shit Shirlock, but that is a sunk cost my friends. It's on the citizens now and not doing anything will only make everyone's lives worse. No home loans, your local grocery store can't borrow so they go under, no more car leasing, your employer has to fire half the workforce because they can no longer borrow to expand the business or can't get a credit line to pay the bills. It's doomsday people.

The bottom line is this, I may somewhat understand the severity of the issue. I have a good idea of what it means to read that Libor spreads widened to an all-time high. The average non-finance person has no clue and that's fine. However, if you're in a chemistry lab and you see a clear liquid that the chemist tells you is toxic, you believe him, you don't say fuck you, you're lieing, and drink that shit. So listen to the finance professionals and maybe we can fix this mess.