I understand the anger on Main Street over the possibility of the $700 billion Wall Street bail out plan. Why should the American public, after all, rescue Wall Street fat cats? Here’s my simple view. The Little Guy certainly didn’t profit during the recent financial boom, and, even if he did, it wasn’t on a scale anywhere near the big wigs. A drastic downturn, however, could touch everyone. Mortgages, home improvement loans, credit cards, commercial credit — the economy needs all these to hum along. If credit dries up, we could all suffer.
So, I suppose the ugly truth is that while only some Americans benefited from good times, everyone gets hurt if things go bad.