THE OTHER BAILOUT PLAN

Yes, you've read that headline right! There is another bailout plan that has been approved, but it's neither for the American public, or approved by Senate.

While the Senate is slaving away with the health care issue (which is another blog post for another site), Michael Vick just received his personalized bailout plan from U.S. Bankruptcy Judge Frank Santoro.

"The plan approved by Santoro was supported by all creditors or representatives in court, save for one creditor owed $13,000. It hinges on Vick liquidating an estimated $9 million in assets, including houses, boats and high-end sport utility vehicles. He would not have to pay creditors during the first year with the Eagles. Future payments would depend on Vick’s salary, with creditors getting payments based on how much Vick earns. The Eagles have a $5.2 million option for next year, not including incentives."

Well there you have if folks, the Michael Vick bail out plan. Although he isn't completely out of the woods, at least he won't be bankrupt anymore. Of course, if I owed that much to any creditors, I'd land in jail and probably be slapped with a huge fine for being such a drain on our society.

So Michael Vick, welcome back to the American dream. Playing professional football on a pretty decent team, being out of jail, and finally being able to say "I am no longer bankrupt! Let's go buy a dog!"

Jaclyn Kahn