Obama's Four Point Financial Plan

Here's is Barack Obama's four point to deal with the financial crisis:

1. Obama calls for subsidies to "working families" to beat high food and energy prices. That only drive up the price of food and energy even more because the suppliers of both will know that families are getting the subsidies, so they can raise their prices more. Also, does this include all working families? Or is there a income limit? Isn't this just wealth re-distribution? You want lower food prices then stop all subsidies to farmers. You want lower energy prices then increase the supply for energy like oil, nuclear, compressed natural gas, etc. And how about lowering the tax on gasoline.
2. Banks would subsidize bad borrowers to "protect homeowners and the economy." Why stop there. Let's have banks subsidize people borrowing money for cars, motorcycles, motor boats and other expensive items. Maybe the banks should not have gave loans to people who can't repay them. Normally, banks don't do this but in the 90's the gov't put pressure on banks to give loans to borrowers who couldn't pay off the loan because of political correctness. Think about it. Why would banks give loans to the poor? Banks like any other business are there to make a profit. The borrower has to show he can pay the loan off. It's called collateral. I suppose there are some unscrupulous bank loaners who gave loans to people just to resell their home when the borrower defaulted. If the bank had unscrupulous business practices it would not be business very long. Word would get around. A bank does not really want someones home. They have to pay someone to mow the lawn and do other upkeep on the home to sell it. There also has to be a market to sell the home. Banks really don't want to be bothered with that. Keep in mind nobody forced borrowers to borrow money. It's called free will. And along with free will comes personal responsibility. A borrower should know if he can pay back a loan or not. If you have the bank subsidize financially stupid borrowers then you are encouraging bad behavior. The borrower will not learn a lesson. It's funny banks are accused of being unscrupulous for making loans to bad borrowers but it is okay for states to have lotteries. You know who buys lottery tickets? The poor or working class. Very few rich people buy lottery tickets. They don't have to. Isn't the state taking advantage of the poor?
3. Obama seeks "new oversight and regulations of our financial institutions." More bureaucracy. Great. It is the gov't that caused the housing mess in the first place.
4. Obama seeks to empower unelected foreign entities to the same "globally coordinated (rescue) effort." Yea, right. How is Obama going to persuade other nations to help out? By sure will alone? I can see Iran, Russia, China and other dictatorships like them helping out. Friendly nations may help out but they have their own issues. The UN has been completely impotent where comes to world affairs. Iran anyone? America does not need another bureaucracy in the mix. One is enough. Then Obama wants to give billions to the UN to feed the poor countries. That's like throwing money into a black hole. Plus the leaders say that will only screw up their economies. Any corrupt regime who gets any money will take it for themselves. The starving people won't see any supplies or food.