After the bailout failed the President gave a speech that frankly gave me the first impression that it was some kind of ransom demand. As if we're being held hostage and the kidnappers are demanding $700 billion in ransom.
"I assure our citizens and citizens around the world that this is not the end of the legislative process...it matters little what path a bill takes to become law, what matters is that we get a law."
Gee, I've always really kinda thought that it DOES matter what path a bill takes to become law, for instance, if the bill FAILS then it DOESN'T become law...seriously, is this some kind of a joke?
"I recognize this is a difficult vote for members of congress."
Um, maybe because the people they represent are wildly against it...could it be that? maybe?
"The consequences will grow worse each day if we do not act, ...it will have a direct impact on the retirement accounts pension funds and personal savings of millions of our citizens, and if our nation continues on this course the economic damage will be painful and lasting."
Are you threatening me? I'm sorry but it's the policy of the United States of America not to negotiate with terrorists...
"Our economy is depending on decisive action from the government ... we face the choice between action and economic hardship for millions of Americans."
I choose option b, economic hardship I can handle, but "decisive action from the government" frankly sounds kind of scary.
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The more time goes by, the more I am convinced that this bailout is a sham concocted to protect the wall street elite.
I mean, what if we simply let the financial sector go through a sea change? What is the worst that can come? A recession?
Doesn't letting the mortgage firms go under just mean that their assets will be controlled by their creditors? In other words, an proverbial sign put out on the storefront that says, "under new management".
By this point, that is exactly what is needed: NEW MANAGEMENT (so-to-speak). It's high time the government got out of the hip pocket of corporate America and quit trying to subsidize every underachieving, imminent failure in our economy. Let the losers lose, plug the leaks in our regulation and mortgage policy, and let the next generation of bankers usher in a new age.
It all seems so simple. Maybe that's why Washington wants none of it...
We need to take our money back and start investing it locally. We don't need to give our savings to wal-mart, mcdonald's and starbucks so they can create a surrogate monoculture in our communities. Let's start investing in local people, people we know, and watch the variety and creativity of our nation truely blossom from roots on up.
This worst part of this, in my opinion, is that the only thing the tax payers would be buying is the bad debt. If we stood the chance to gain, as a nation, from the good loans that are out there, at the expense of the greasy bastards who exploited so many. I'd be good with that...
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