Thoughts on the Bailout

In case you didn't know, I love Google Reader. I get all the headlines from all my favorite sites all in one place. It saves me loads of time, and I like to think that because of Google Reader, I am pretty well informed about what's going on in the world. With the exception of my friends' blogs, I typically just skim the headlines (a lot of times the headlines tell me all I need to know), and only read the entire article when the topic jumps out at me as interesting or important. So imagine my surprise when at dinner on Monday, Jen started talking to me about the Bailout plan. Um, I think I had seen this in the headlines somewhere, but was ashamed to admit that I had never actually read the articles and had no idea what she was talking about. I immediately went home and started reading and reading about the plan. Both sides of the argument (for and against the bailout plan) were pretty convincing. No, as a taxpayer I don't really want to have to help pay for irresponsible home buyers who bought more house than they could afford (I'm sure it will come back to the taxpayers somewhere along the lines), but I also don't want to have the next Great Depression. Regardless of my thoughts or opinions, though, the Bailout plan passed yesterday and was signed into law by President Bush. What does this all mean you might ask? I came across this article that explains a little more about how it might affect us.

One interesting side note - As part of the bailout (not quite sure how they relate), it looks like insurance plans will start better covering mental health issues. I know several people who suffer from some sort of mental health issue (depression, bi-polar, etc.), so I am happy to see this legislation passed.