First of all if this 1% is true, doesnt that work in reverse as well. How many times have we heard the scare of the disappearing middle class becoming poor? I doubt this number having personally been categorizied as "rich " in the past but now back to the middle class for now at least, after a definetly poor start to life.
Regarding the "bail-out". I have been a life long Republican and believe in the free market as the best economic system for any country. The proof of this is what our country has become in relatively short historical time. I take real insult when both parties come out and blame this current fiasco on the greed of wall street. Through several legislative measures starting in the late 70's banks and lending institutions were "pressured" to make getting home loans easier. Add the government sponsored Freddie and Fannie buying up any bad loans made, there was now no risk in making these loans because all the bad debt could be past off. There are companies now that only exist to write loans and then sell them to Freddie and fannie. They make money off a loan without it costing them anything other then ink and paper. This entire situation was created by the Congress not the free market!
Now when this thing implodes all the people that created it stand up and say how evil the free market is? We watch everyone congatulate Dodd for his hard work (head of senate banking in charge of Freddie and Fannie oversight) Frank for his help getting it through the House ( ex-lifemate was long time Fannie exec in charge of lobbying congress) I dont only blame Democrats for this. Republicans had control of committees for years and had legislation before them to stop this and did nothing either. Now both candidates are out there yelling about evil capitilism. Why are they afraid to say who really caused this? To many of their friends would go down for it or have they known all along so everyone is guilty?
So based on all the above I will be voting third party this election. My first non Republican vote since 1988. But i am afraid as a constitutional country we have been sold out.