What the BBC arabic Experts don't understand is the fact; that economic Freedom is tied to the Political Track. Progressivism emerged historically after the 1929 Crisis, and boomed in the thirties. But as soon as political Stability became achieved, Progressivism became less popular. So the proposed Plan is not a socilaism, but a temporary Way-out action.
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The $700 bn bail out bill will not be successful in providing more liquidity to the credit markets. Credit markets pricing work on risks. Banks do not trust each other to repay after the failure of Bear Sterns, Lehman Bros., and AIG. Moreover, risks models will be seeking borrowers with stellar credit worthiness; those that conform to the basic five Cs of credit. As such, credit will be available, but to those that meet strict criteria, and pricing will be costly because of demand and supply factors. The government can only make a bad situation much worst. Basic market forces will prevail. Meanwhile, the democrats will have again been successful in achieving one of their life long goals, income redistribution.

Essentially says; We should have taken the following actions.

1. President,Congressional Leadership,Presidential Candidates, should have issued a bipartisan statement, "The Government of

the United States will take whatever steps that are necessary to assure the flow of credit within the financial community. It will take us 60 days to establish what will need to be done specifically. In the interim we will pass a bill allocating $700 Billion set aside for this purpose". Investigations are underway with the charge of determining whether there was any operational, or oversight malfeasance, and if so to prosecute those responsible to recover funds paid out."

"This will give us the time necessary to make sure that whatever acions we take are taken with the full knowledge of the people of this country who's money are at stake.

In the interim we call for the resignation of the Banking Committe's Chairmen of the House and Senate from these positions."

Had we done this, the majority of the people in this country would have supported it., We would have the "time" to see what affect free market forces would have, and we would not have "frozen" the credit market,who are waiting for a "hand-out" of this problem from the government.

There is "NO" plausible reason to believe that our government can buy up somewhere around 50%

of the mortgages that exist,and manage "work-outs", recovering our money. Government has no track record of success managing much of anything efficiently and with any accountability for the outcome.

Philadelphia put in place a law that requires foreclosures to go through a compulsory "work-out" negotiation. Surprise 80% of their foreclosures have been worked out! If we end up owning the mortgage inventory of Fannie Freddie and others, a simple solution would be to enlist the aid of States and their Towns ande Citys so that "work-out negotiations are conducted by people and financial institutionsthat have a "local" prescence and have some need to "make things work for their home turf".