-
September 24, 2008 10:16 AM
Call Congress. Tell them no.
It is worth noting that Wall Street has not collapsed while Congress hears from angry constituents about the Bush bailout. When announced, the market went up 400 points. When doubts were raised, it went down 300 points. That does not a crisis make.
If you have any personal doubts about whether the bailout is a good thing, just ask yourself whether you would trust Dick Cheney to allocate the $700 billion among the hedge funds, foreign banks, and associated financial institutions. No prior review. No conflict of interest policies. No guidance on whether the Bush Administration would pay more than market value or less than market value.
This program would have FAR less oversight that our expenditures in Iraq, and it will be years before we have the full picture of the corruption, bribery, loss and outright theft that characterized that misadventure.
If Congress buckles to the Bush pressure, having forced a few face saving figleafs onto the bailout legislation, all $700 billion is likely to be gone before a new Administration comes in. And that is probably the point.
Do not be fooled by the skeptical sounds coming out of Washington. That is all performance. The inside the beltway crowd wants to make a deal. It is our job to say that no deal is acceptable. Call early and often. It is okay to be angry.
-
TAKE ACTION
-
Recent CREDO Blog entries
-
This Modern World
-
November 12, 2008 -
November 6, 2008 -
October 27, 2008 -
October 20, 2008 -
October 15, 2008
-
-
Donations Recipients
-
RSS feeds
Discussion
"If you have any personal doubts about whether the bailout is a good thing, just ask yourself whether you would trust Dick Cheney to allocate the $700 billion among the hedge funds, foreign banks, and associated financial institutions."
Your claims -- dubious or just plain wrong -- make you sound just like McCain.
Henry Paulsen's the guy, of course, not Cheney. I certainly do trust Paulsen. Don't muddy the waters by bringing that criminal Cheney's name into it.
Paulsen's proposal says nothing about hedge funds and foreign banks.
I also trust Warren Buffet who says that we need this bailout and we need it now!
Why don't we let the chips fall where they may? So a couple of major financial houses have gone under along with many smaller banks and institutions. Why did that happen? Corruption in the lending business contributing to massive capital loss from foreclosures. When are people going to start going to jail for this massive fraud and derelict of fiduciary duty on the American public? Bail these crooks out for deceptive business practices; greed on a most sickening scale; what I call "radical capitalism;"
Since Americans are in trouble with credit anyway on a wide scale, why do we need a bailout that would only make loans available to people already in over their heads? Let the chips fall where they may! It's all the natural consequences of a nation that has misused credit on every level from the greedy, careless lenders to the grandiose American character and lack of education that has justified borrowing beyond one's means. Finally, I'm a single mom on the losing end of a divorce. Will someone bail out my life please? I'm raising the next generation and live on $2,000 per month. I won't need $700 billion dollars, but if Congress would fund Section 8 with a tiny fraction of this sum, I'd be able to afford gas and food till the end of the month. I think even Paulson knows (judging by his skittish demeanor and "request for oversight" at the hearings) what a racket disguised as public good this whole charade is. Maybe I will vote Republican just to get a woman closer to ultimate authority in the land. A woman wouldn't be this stupid or careless. We naturally care for the good of others at our own expense. Men naturally justify taking for their own gain at the expense of others. Oh, will SOMEONE please stand up for what is AND sensible?
Join the Discussion