mom - how much is seven hundred billion???

This is one of those times I need help from my kind readers (the long-suffering group).  Here’s how this works… I’ll tell you what I understand of a situation and you tell me if I’m right or give me some helpful info.

Regulations were put in place after the Great Depression of the twenties so we wouldn’t have anything like that happen again.   The regulations were recently removed, as if we’d ever need them.

In his first term, George Bush’s buzz phrase was `Ownership Society’ (meaning house).

Regulation of mortgage companies was sent up the same river as the anti-depressant regulations.

Without oversight, the mortgage companies ran rampant, selling all sorts of mortgages that the buyers could never repay.

The excrement hit the rotating device and the mortgage companies started going under.

George Bush, et.al., stepped in with some nonsense about bailing these institutions out.

We are now in further debt to the tune of seven hundred billion dollars to bail them out.

The legal verbiage of the bailout states that it cannot be reviewed by the courts or anybody.  The bailout, as well as all of the prior legal legedermain, was approved by both houses of Congress, in bipartisan fashion.

We are rewarding the hideous fiscal mismanagement of these businesses by handing them seven hundred billion dollars.

If I default on my mortgage, no one is going to bail me out.

Did I get it right?

Where else but in America?