Excerpts from CNN.com story: "The G-7 agrees today that the current situation calls for urgent and exceptional action," the leaders, who are meeting in Washington D.C., said in a statement.

The plan of action includes:

Take decisive action and use all available tools to prevent "important" institutions from failing."

I read this and I got this uncomfortable feeling in the pit of my stomach. One of the major issues facing the markets is uncertainty. It is this uncertainty about the value of the debt held by institutions and thus the value of the institutions themselves that is complicating so much of the lending that greases the wheels of our economy. Now, I am no economist. But, hearing that statement makes me more uncertain, not less. If I were a bank or institutional investor, how would I know which institutions are "important"? Do I want to only invest in the biggest institutions, because, surely, they must be too "important" to fail? Do I ignore the value of these institutions debts? Doesn't this just prolong the proper valuation of debt and thus keep us in uncertain times longer? And what does this do to smaller, less "important" institutions? Can they now not compete or are they handicapped in their efforts to participate in the credit markets?

It seems that we are marching steadily toward socialism and forgetting the damage we are doing along the way with these so called "cures." Throwing money at this problem does one thing: It makes the taxpayer the purchaser of bad debt and rewards those most culpable for the mess we are in.

One more comment; it appears to me that some of these announcements are designed to calm the markets. I think that they are having the opposite effect and undermining confidence. Stability is what we need and these "rescue plans" and "bailouts" are doing nothing to help.

Wake up, America, before it is too late!