The bailout soup line is getting longer and longer. Heck, it is around the block. It seems since the automakers got their chuck of bailout cash that more and more groups are getting into the action. 

Now property developers and managers are letting the government know that thousands of hotels, shopping malls, and commercial buildings are headed into foreclosure and bankruptcy unless the government steps in and helps. 

The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent. Now if that seems low to you that would be because it is. If that seems “too low” to you, you would once again be right…it is.

I think I am about over real estate investors walking around dumbfounded as to why real estate prices came back down. As a good friend of mine says (and I mean no disrespect) “Ray Charles could see that one coming.”

Ok, what is the deal anyway? 

In September Paulson was the man with a plan. Matter of fact, he basically scared the $^#@! out of everyone saying if they didn’t do what he wanted we were in for an economic collapse.

With all of the bailout and deficit spending talk during the Presidential election, American voters became (painfully) aware of the debt the U.S. owes to other countries.China was mentioned several times during the debates and currently the U.S. owes them a cool $541 billion. Certainly not good on the surface

Even as we fight to recover, there is a lot of blamestorming* going around in Washington right now as to who was responsible for the economic downturn. The Democrats of course blame the Republicans and vice-versa.*(ok, not a real word, but I like it).

The Senate may have proved to be so great at fishing this week I think we should move them to ESPN or at least the Outdoor Network. 

The House is debating the economic bailout today and they are optimistic they will pass the $700 billion bailout (oh yea, and the other $110 billion in pork additives to buy their votes). Did I say that?

Come on; let’s just go over the facts. 

1. The Bailout gets shot down in the House. They don’t like it; they think it is a bad way to help. It falls 13 votes short of passing. 

2. Senate decides to take a shot. They add some pork to help sway those that didn’t vote for the bailout. Is this not bribery? “Hey, I know you think the bailout is a bad idea, but what if I throw in some stuff – completely unrelated – that you want?” 

3. House Approves the Bailout, the President signs it. 

Now the House all of a sudden “feels good” about the bailout? 

Rep. John Boehner, the House Leader, said “Is it perfect? No. But its clearly better than it was a week ago,” “I’m optimistic about today.”