Bailout Plan Put Into Action

The 750 billion dollar bailout plan is starting to be put to use. The Bush administration plans on investing 250 billion dollars into the failing banks in order to get them on their feet. New policies are also being made to insure non-deposit accounts, or business accounts. Lending between banks may also be administered to chip away at the credit situation. Some people feel that there is not a specific plan, that the government is trying random things to solve the problems. Other feel that they are addressing effects of the financial situation, not the problems. Something I found very interesting, the U.S is offering an unlimited amount of money to the banks of the E.U, Switzerland and England at a fixed interest rate. It seems sort of odd to be lending money in a state of financial crisis.
It seems that the U.S government has attempted to solve the financial problem with many different angels. FDR was a believer in experimentation when he tried to get America out of the Depression, so maybe some good will come out of all this. The stock market did go up roughly 1000 points today, but we are still down nearly 30 percent on the year. We'll see what happens.