And.....what reason was your friend given?
This hysterical nonsense has got to stop. The sky is not falling, the earth isn't opening up to swallow all of us.
If you watched Morning Joe on MSNBC you were treated this morning to pure fiction. They put Andrea Mitchell on there like she is some sort of independent journalist. She is NOT.
Andrea Mitchell is Mrs. Alan Greenspan, the reviled architect of this now bursting bubble. She fears for her hubby's historical legacy. Greenspan will go down in history as the worst bubble blowing Fed chairman ever. Do you really think she is capable of being objective about this?
Calm down, people. Think rationally. Make no sudden knee jerk decisions. This is a ploy. There is money to be lent out there. If credit markets are dry, why do I still get at least five good credit card offers a week? It's another scam.
Bushco will keep pushing for the bailout with good money of assets that were worthless when they were created from thin air. Wall Street tried the Federal Reserve method of creating wealth from nothing. It blew up on them. They will freeze everything until our clueless representatives are spooked into giving them what they want. It is a gigantic game of chicken; don't blink.
Be calm and stay the course. Keep contacting your representatives. Holler lound and long and often. I detest the thought that they will sell the next five generations of my family into bondage....let them sell themselves and their descendants if they want to. NOTHING is eactly what they need to be doing.
BTW, ALL of my dumb clueless reps have to go. They blinked. They are too stupid to see when they are being manipulated by fear tactics. Bush is too stupid to even get a new script:
"The risks of doing nothing far outweigh the risks of whatever it takes to disarm Saddam Hussein."
~ George W. Bush, February 10, 2003 (and several other occasions prior to the second Iraq war)
"The risk of doing nothing far outweighs the risk of the [$700 billion-plus mortgage bail-out] package."
~ George W. Bush, September 20, 2008