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Sen. McCain has put politics aside for a short while (so to speak), and has returned to Washington DC to be a key player in the mortgage bailout legislation, and he encouraged Obama to do so. Obama did not feel there was a necessity to do so, until he was invited to a meeting at the White House.
When one cuts through the rhetoric of the campaigns, and through the language of President Bush, what is the real rush in the $700,000,000,000.00 bailout in our mortgage crisis? Is there a potential for a rush on the banks by middle America, and is this the reason for the rushing?
We all have the basic understanding that our deposits are insured, up to $100,000 per depositor in each bank. But, though the FDIC is an arm of the government, are the assets and reserves of the FDIC adequate to substantially insure the depositors as the markets appear now? We have seen the bad paper on the books of Lehman Brothers and others, and the ailing troubles at AIG. Is it too far of a speculation to think that the assets and reserves of the assets were depleted as a result of the falling markets, and now are not in a position to sustain a run on the banks?

If the federal government is going to commit each of us to this $700,000,000,000 bailout, I believe that we have the RIGHT to DEMAND transparency in financial system. There is obviously “more than what we are being told” in this rush to legislation, because the majority of Americans are AGAINST this bailout. Someone, anyone…….. Washington……. can you hear us!!! Tell us what the real rush is if you want us to support the cause!!! Sen. Biden, I am Patriotic, but I want the true facts!!








