Once again, Michael Moore is spot-on in his assessment of his countrymen. In a new piece on his web site, he makes the case for studying this Wall Street crisis a bit further before we jump in to rescue a bunch of golden boys to the tune of $700 billion. The more you think about this whole mess and look at the proposal currently being thrashed about on Capitol Hill, the more you see that isn't much more than a bailout of Wall Street titans and the companies they keep. These ostensible bankers are pointing their fingers at US and effectively saying "if you don't take these ill-advised mortgages off our books, we're going to take down the entire banking system and your 401(k) with it." Talk about petulance! Like we would ever put up with this kind of attitude with our kids.

I think it's high time we hold our horses and study this whole bailout thing a bit further. If we took even half that $700 billion in bailout money and used it to help Americans who are struggling with their mortgages, we'd probably solve this crisis right then and there. And I'm sure there are countless other solutions I haven't even contemplated. The bottom line is we need some TIME before we spend $700 billion in taxpayer dollars for what could be the WRONG reasons. I mean, the last time President Bush and his administration asked Congress to vote on something quickly -- "We need to invade Iraq now! Saddam has weapons of mass destruction!!" -- look what it got us: $500 billion poorer and 4,000 empty seats at Thanksgiving tables all around the country.

Since the stock market is unlikely to go to zero by next week, we owe it to ourselves to think this one through.