For those of you that have been successful real estate investors may be shocked by the proposed bailout that Democratic Presidential candidates announced on August 7, 2007.  Senator Hillary Clinton wants to create a 4-point plan to help people avoid foreclosures by setting up a billion dollar fund. John Edwards wants to ban balloon loans. Senator Barack Obama wants the nation's senior economist to convene a Home Owner Preservation Summit to to stem the foreclosure tide. Can you believe this nonsense? Having first hand experience and being trained as an economist, that's the most ridiculous proposal on the table. Harry Truman's famous saying that he "wanted a one handed economist," because of economist's hedging "on the other hand" statements whenever confronted on an issue.

This is prompted by a 800 point "mortgage melt-down" on Wall Street. Isn't that just peachy? The taxpayers are being asked to bailout

Hold onto your wallets people. Do you really want to give this woman the power of the purse?

to "help the people most affected by predatory lending practices, the mostly "poor and minorities"