Is the head of anyone else spinning uncontrollably with the current market debacle?

I know my head is. I know that I think the bailout is a BIG mistake.

Dave Ramsey has a good idea on it which you can listen to here.

I also like this article on Lear Capital, the people that provide the free real-time program for tracking the precious metal prices, ExactPrice:

"There are several important observations to make regarding the "bailout plan". The first is that it is obviously born out of desperation. The second is that it is Grand Larceny as its aim is to unload all of the debts and obligations accrued by banks, brokers and various other large corporations and institutions as a result of years of recklessness and incompetance and sheer greed off onto the taxpayer, the underlying reason for this being the extensive crony connections between Wall St and Washington and the associated enormous political clout Wall St exercises in Washington. The third observation is that as far as arresting the financial crisis is concerned, it simply can't work and won`t work - the proposed $1.2 trillion slush fund intended to fund this giant garbage dump is still peanuts compared to the towering $47 trillion debt market and the even larger derivatives time bomb."

MarketWatch is always a great source of news too:

I like some of the comments on that article:

"Bernanke is a fool. If taxpayers are paying the "hold to maturity price" for these worthless assets and then taking the risk to hold to maturity, what are we getting back in return? NOTHING. Not even a cent in interest.

"The market has valued these worthless asset at market price which is close to worthless. He has not answered how much we are going to pay for these asset."

I got to say I like Ramsey's idea of just covering the insurance on the mortgages and not buying up all the mortgages.

If we're going to be forced into a trillion dollar investment as tax payers we should be getting a return but the truth of the matter is that the tax payer will never see a return. The government will eat it up if one does magically appear. Which I doubt at this point in the game.

Another thought I have is if the government really wants to go socialist on this whole deal why not go whole hog and not bailout the banks. Instead bail out the homeowners. Pay their mortgages off for them. That way the tax payer gets the return right off the bat. Just a ludicrous thought as my head continues to spin.