I am writing this to see what other folks in our industry think of the bailout.  Most people are against it, but I feel that most people do not truly understand the magnitude of our countries financial situation, nor do they understand how the bailout will actually work.  The biggest misconception I hear is that the government is giving 700 billion dollars to the banks.  This is simply not the case.  The plan (which as of this writing is still yet to pass Congress) is meant to buy the troubled mortgage backed assets from the banks.  This will give the financial system much needed liquidity that will allow for the normal operations of our economy to continue.  The buying of these assets is more of an investment than a gift.  These mortgage backed securities have been traded down to a point that they are vastly under valued.  While it is not likely, the taxpayers could actually make money from the bailout, if these assets rise in value over the next few years.  The majority of homeowners are going to continue making their payments, but now they would be making the payments to Uncle Sam instead of a bank.  That is why the "investment" will never cost taxpayers anywhere near the $700 billion many people think it will.  I think the bailout is needed and needed quickly to restore confidence in our economy.  Please let me know if you agree or disagree and what you think of the bailout.

Thank you.

Chris Haynes

www.besttnloans.com