Why did so many rich people support the Bailout?

I heard on many TV programs that a lot of the Warren Buffets of this world (some of those who are much less left orientated than him) were really for this bailout.

You would think that they would like free markets to thrive in order to make money. So why didn't they?

Well, my guess it's all about the money.

I don't believe that many of these billionaires think about the common Joe and make decisions according to the fate of those who don't have a lot.

No. When I grew up I had some friends from very wealthy families and there was one thing I have learned.

Rich people always go where the money is. They have a basic money instinct. No matter what the political environment is, they always seem (with a few exceptions of course) float back to the top, even if they take a hit.

So the bailout must offer something for them, that they do not believe would happen without that. But I don't see it's the interest of the small person, no it's about their huge amounts of money,their connection to the big financial institutions, their insider knowledge.

They are still in the free market place, they are still trading, they are still buying, they are still increasing their fortune.

While you pull your money out of the market, they want the Feds to step in, so that they can use this window of opportunity to get even richer.

Honestly I do not say this in disgust, I just think that is how it works. So when Steve Forbes and many of these other high ranking economy billionaires vote for the bailout, I don't think it is because of the effect that it has on the little guy (although of course interlinked), but mainly because the impact on their own budget.

The Alien Patriot