Blue Chips Stocks – Bailout to Socialism? WOW What a Ride!

Wow can you believe what is going on, the market down over 700 points! 

I remember when I was a stockbroker and there was this term that we used, "blue chip stocks" and these were the stocks that were safe and the what a "prudent" money manager would have included in your portfolio.  Today I am not sure this term even exists or the stocks that represented the blue chip term?  Think about, when was the last time you heard that term? 

Dramatic losses in stocks like Bear Sterns, Bank Of America, Lehman, etc etc etc etc etc in absolutely unbelievable.

The terms we now hear all over TV and radio are closer to a world/market that we could loose faith in:  Greed, Liars, Thieves... just to name a few.

I for one, have not lost faith in capitalism, free enterprise and our markets!  The bailout plan that was proposed is one I was not in favor of.  I am not sure how we get out of this mess but I do think that we need to let the market correct itself and at best provide insurance to stabilize the markets.

The blame game is going on everywhere, and rightfully so, but the markets will adjust an get better than they were before, because that is how free enterprise and capitalism works.

Anyway I thought I would write a few of my thoughts and ask you yours!  Let me know what you think and if you think this bail out plan should happen or what you like or don't like about the plan.