Handout!!!!!!!!!!!!!!

Well we know now that the Bailout was just another form of handout to the greediest of the greedy. According to today's WS Journal, the focus of this travesty has changed. No longer are we focusing on the purchase of toxic assets to free up credit and preserve homeowners, shore up small businesses, but we are now encouraging banks who managed to stay afloat without government help to take help so no stigma will be assigned to those troubled bank that really need help.

Case in point, PNC Financial not previously listed as in danger if failing because of toxic assets, receives $7.7 billion of bailout money. What does PNC do with money? It purhases National City Corp for $5.58 billion. Now some may say that PNC merely saved National City from failing which is what the government wanted and the timing was a mere coincidence.

Okay, how about Bank of New York Mellon Corp? This entity was hired as custodian of the troubled asset program. They would schedule reverse auctions to establish the lowest purchase price to guarantee the sale of these toxic assets. The Treasury Department also picked BNYMC to receive $3 billion from the program.

Oh and just to make matters worse, the insurance industry and the auto industry want in on the action too. Guess the $86 million to AIG and the recent $25 billion in low cost loans weren't enough.

Where does this leave the taxpayer? Right where he has always been, holding the bag. His retirement eaten up; his home, if he stills has one, worth less than his outstanding mortgage; his job, well who knows where the job losses will occur next. They should come at the management level of every company involved in creating this crisis. No golden parachute, no stock options. We should also eliminate the elected officials at every level who espoused tax breaks, help for the wealthy and return our great nation to the tenents of our founding fathers.

We have moved so far away from the simple truths that this country was built on, the truths that young men and women haved died for. With God's help, we can be that nation again.