Pat Buchanan does not hesitate to rail against both parties. Tom Sowell in his column today takes a dim view of the bailout package. It is impossible to post an article about this that does not express political opinion. But even the Congressional Budget Office is pointing out that the spending will take years to happen. Ponder just how much money we could simply dole out to people if in fact that is what this bill did.
At the San Antonio Economic Conference just two weeks ago, one VP at Frost Bank expressed this opinion
I don't see how it will help to borrow money and have folks spending $500 at Wal Mart to buy goods from China.
That seems to sum up a lot of thinking on this so called bailout bill.
I welcome other comments and posts on the blog. As I mentioned in both classes yesterday,we are looking into the abyss of potential declining stock values here. A break of the Dow 7400 area, would bring much lower prices, and destroy a lot of wealth and confidence. After literally the worst January in stock market history I fear we are bracing for just such a test or recent stock market lows.
Professor Elam 
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