Paulson and Bernanke's Hail Mary Isnt Gong to Make it

This weekend after reading the news reports about Paulson's plan I came to the same conclusion as the New York Times that it wont work. The New York Times called it a Hail Mary play and how many times does the Hail Mary pass work. Unfortunatly they rarely succeed.
Allan Binder the former vice-chairman of the Fed and one of the architects of Paulson's plan summed it up when he said after sifting thru everything housing prices keep falling and that must be reversed to stop the bleeding. I totally agree with that assessement and thats why I dont think Paulson's plan will work. What is the basic reason for the housing collapse and mortgage crisis? The basic reason is people just dont make enough money to pay their bills including the cost of housing. What is the cause of that? The loss of the American automoible industry and the good paying jobs it once provided would have to be at the top of the list of reasons why people have lower incomes and cant afford the style of living they once could. This is the problem the government should address even if it means naionalizing the American Automobile Industry. Paulson's plan of proping up the banking system could make it much harder to get out of this mess if he fails in stopping the financial free fall going on now. Paulson's plan isnt going to increase the earning power of the average American and thats why his plan will fail. Rebuilding the American automible industry will accomplish this and thus ending the housing crisis.