Warren Buffett was on PBS last night. This again is DEFINITELY worth watching. (55mins, vid link at end). He explains well why the Treasury (with their extremely low cost to borrow combined with the governments staying power) is doing the right thing with this "bailout" (which is really an investment).
All day I've been watching interviews on CNBC with house representatives. Just a headache to watch our elected leaders say such dumb sh**.
Therefore, here is some parts from Ken Fisher's "The Only Three Questions That Count" on "poli-tics"
"If you don't know the origin of the word politics, let me enlighten you. The word politics comes from the Greek poli meaning "many" and tics meaning "small blood-sucking creatures." Unless a poli-tic stands up and announces, "I routinely lie, cheat, and steal to help my career and care nothing about you, whoever you are," you should take anything he says with a grain of salt. (Presume you can tell when they are lying because it's when their mouths move.)"
"Poli-tics, overwhelmingly, aren't students of capital markets. More than anything else they tend to be lawyers (Some exceptions -like Presidens Eisenhower, Carter, Reagan, or Bush. Or even Arnold Schwarzenegger). Don't look to them to be experts in finance or economics. They may be honest enough until they become Beltway blowhards, but still aren't experts on markets and economics... you'll be a better investor and sleep better at night if you tune out approximately 97 percent of what poli-tics say."
Here is the link to the Warren Buffett interview: