The bailout of Corporate America -or is it?

The financial markets continue their downtrend. And there isn't much light at the end of the tunnel that can be seen. The US $700 billion package has been passed. Every one of the lawmakers, Democrat or Republican alike, shake hands, high fives and hugs. "Well done", "We've done it". And now we wait for the healing to begin.

This bailout is not the panacea for all ills. The package will come with many conditions. The higher good: the welfare and well being of the American people. And during an election year, these are the rhethoric that will sway and win votes. Noble and good these intentions are. But as always, the devil is in the details, the implementation.

Safeguarding bank deposits, creating jobs, no further governmental deficit spending, protecting homes are phrases that we will hear and read a lot about in the next weeks to months. And why not? People are voters and during election, politicians need the people's votes.

Does this mean that weak banks will be shored up and prevented from failures? Does this mean that institutions which practised imprudence or even mismanagment will be saved? Does this mean that "Fat Cats" who perpetrated the complex network and created the environment for failure, will get away with their Fat pay checks and exit packages?Does this mean that tax payers money will be used to "reward" the wrong doers who put the financial security of tax payers in harm's way?

These are the questions which the American people will need to answer for themselves or get answers, before and as they cast their votes this November. And then after the election, the next question: will the election promises be kept? Kept away or make happen?

The developments which are happening in the USA provide many useful lessons for people like you and I, who do not reside there. I will blog some of these in the weeks to come and look forward to seeing you then.