WHAT DO YOU THINK ABOUT CONGRESS' $700-BILLION BAILOUT PLAN?

Last week's GlobeSt.com Quick Poll asked readers about their reactions to Congress approving the $700-billion bailout package. Nearly half the respondents indicated that the bailout "stuck it to the American taxpayer," while 23% said the action derailed any private-sector solution and 29% said the bailout came just in time because there was no other way out. Howard Taft, managing director with the Miami office of Cohen Financial, says an argument could be made for all three reactions to the plan. He shares his thoughts on the poll and the bailout's effect on commercial real estate:

"I think in this instance, all three effects are [present] in the current market today. I think more banks would have failed [had it not been approved] and we would have had a quicker meltdown, like what happened last week in the stock market.

"In terms of derailing any private-sector solution, there wasn't any private-sector financing that could have matched the Treasury funds. I would also say the bailout absolutely stuck it to the taxpayer. That's $700 billion we have to borrow from China and other foreign countries.