Wall Street Welfare?

Jason Whitlock (left) is a sports writer I enjoy reading immensely. He often says things that need to be said despite pressure from the community not to say them.

In last week’s column, before he listed his sports thoughts he dropped this line:

If welfare destroyed black America, how can welfare save Wall Street and fix America’s economy? I thought we all agreed that welfare was terrible.

Just yesterday, the House of Representatives voted the proposed bailout down.

What I know about high finance amounts to a hill of beans (if that) so I must ask, is this an oversimplification on Whitlock’s part? Or is this an accurate take?