At last, commentators (not politicians) seem to have analyzed the “bailout” and how it works. This morning a financial analyst stated that the government was buying assets that are worth more than the purchase price. Over time, the government (the taxpayers) will make money. If that is true then the complicated bailout at least becomes “understandable” to Joe Six Pack. It also appears that the problem was created in large part by well meaning politicians who wanted to have more home ownership for the country. The regulatory pressure on banks (Community Reinvestment Act) to stop “redlining” poor neighborhoods and start making loans to those who normally could not access capital was allowed to “mushroom” out of control. President Clinton tried to rein it in during his second term but Congress stopped that. President Bush proposed similar adjustments a few years ago which again were stopped by Congress. My one lingering fear is that the present crisis is merely one of a continuing series of “bad news” financial waves that will start hitting the American beach. I pity the person who wins the presidential election.