President George W. Bush is asking Congress for permission to let the government buy out $700 billion in bad mortgages as a part of the largest financial bailout since the Great Depression.

Under Bush's plan, the government would have the power to buy the bad debt of any U.S. financial institutions for the next two years. It also would raise the statutory limit on the national debt from $10.6 trillion to $11.3 trillion — making room for the massive rescue.

The bailout current proposal does not not specify what the government would get in return from financial companies for the federal help.

What do you think? Is Bush's financial buy-out plan a good or bad idea?