Words

Let's not call it a bailout, although that's what it is. I prefer economy rescue. Pelosi says it's a buy in. We will take over the mortgages - mostly bad ones, I'm afraid. As they are paid or the houses change hands, we will be paid for the paper.

Last week in an effort to sell this bill, many were saying the taxpayer would be protected and these mortgages would be paid back to the taxpayers. Let's be clear. You and I are not receiving any of that money. Any in-flows will go back into the treasury to off set the $700 billion pay out.

Now, we will watch the market. We will listen for stories of loosening credit. We will listen and watch for the costs of credit. Will any of this affect interest paid on deposits at banks and into money market funds?

Today is a new day and this is a new week. Let's hope we can all get on with our business. I pray the nation will return to work with a better understanding of how the credit situation in this nation works. Let's all save more. In the past week, money was king. Those with it had many purchasing opportunities. WaMu had to sell assets at a big bargain to Chase.

'til later