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I must express my feelings about the bill that was just passed by the Senate this evening. I understand that our governing body feels obliged to help the organizations that helped them get to where they are today. There is something to be said about this type of loyalty: misplaced. Nevertheless, the end result will not be anything that you can possibly comprehend!

To put it in simple terms, what good is it to spend loads of money to repair your roof when you do NOT have a secure solid foundation? Now I've been taught that a solid foundation is essential. I don't know about you, but I would think that topic should have been at the core of this legislative discussion. I am gravely disappointed.

The source of this disease are the foreclosures that are growing exponentially. This is what is causing the TOXIC debt to be worthless aka JUNK! And yes, the unemployment rate is also growing exponentially. And yes, the auto repossessions are growing exponentially. The foundation I am referring to is the 'common citizen', they are the backbone of this great nation. It is the 'common citizen' who sustains the U.S. economy. The 'common citizen' goes out and earns a living, pays their taxes and spends. Again, I reiterate from a previous post, the 'common citizen' is the consumer en masse!

This is NOT just a sub-prime (poor credit) crisis. The disease has already spread through the Alt-A (average credit) category and is now bleeding into the prime (excellent credit) category. I am concerned about the segment of the U.S. population that is earning a living, is NOT locked in a long-term fixed rate, and is stuggling to make 2x times, possibly 3x their original mortgage payment. This segment can NOT sell their home and can NOT refinance. Why? Because they already owe more than their house is worth.

It MUST be made clear that their lenders are NOT cooperating with the loan modification claims being reported. In fact, I have been told by many who have tried to contact their lienholder, they were told they need to go into DEFAULT in order to get ANY ASSISTANCE!!! How insane of the lender to want borrowers who have never missed a payment to WANT them to go into DEFAULT?!?!? When this would crucially HELP stabilize the economy, not to mention the lenders bottom line. Therefore, once the weight of the financial burden becomes overwhelming for this segment of the population... the foundation will come out from under us ALL!

So, who are you trying to kid, convince that you have this disease under control by passing almost a TRILLION of our taxpayer dollars? Hhhmm? Perhaps FOREIGN investors? The reason you are giving for the urgency of this bill is to pump LIQUIDITY back into the markets. Really now? The U.S. Federal Reserve has already been siphoning BILLIONS of dollars into banks that have in the end FAILED. So let's just say, we'll see about that...