So currently the White House and Congress are currently working on a $700,000,000,000.00 (That is 11 zeros) bailout plan.

The simple cliff notes version of this plan means that our government (the Treasury Secretary) will have basicly more money than Bill Gates, Warren Buffet, Oprah, You, and I would make in our lives combined to give out to purchase "Assets" from struggling financial institutions.

Those "Assets" are more like liabilites. These are the bad debts that these banks have taken on. So what that means, is say you wind up not being able to make your house payment, and your mortgage goes "Bad" the Treasury Secretary can step in and buy the "Asset" (meaning your mortgage) from the bank.

Based on some provisions added in by Sen. Chris Dodd, a federal judge can then step in and change our mortgage payment and so on and so forth.

This is to prevent large banks from failing, causing a colapse to our financial markets.

Our Government will in essense become the bank. They have a word for this, Socialism. It is when the government for the well being of society steps in and becomes the employer, banker, doctor.. and etc.