There’ll also be no help for the working people of the United States, certainly not with their own tax dollars anyway. No way, sucker. The taxes we pay are going to go help the wealthy stay rich. The executives in question will find another way to get compensated no matter what the politicians and officials are saying.
The Dow is down roughly 540 points as of this posting and falling steadily.
What would the nation do if the people who supported free markets and shimmied their way around whatever regulations exist actually lost all that money as a direct consequence of their actions? Heaven forbid they should face any consequences.
Wall Street needs to be stabilized, but I don’t agree with the plan on the table.
Apparently, I was a supporter of free markets all along, because I say, let them raise their own money, let them bail themselves out if Americans on the ground aren’t helped first. Americans who lost their homes were told “tough luck” for the past two years. Why aren’t the individual failures of all the people who have lost their homes considered a threat to the economy and the world, yet the people they owed money to are now deemed a penultimate priority? -A priority to be addressed with tax money taken from those same Americans?
I agree with President Bush that something needs to be done and soon. That “something” is offer a way out of debt to the American taxpayer who is fighting foreclosure. If that taxpayer is ultimately paying for it all, it should address him/her first. But our President laughs at deficits. He has a perfectly idiotic bravery in the face of this bail out that will add an additional $700 billion to our current national debt of over $9 trillion dollars and climbing.
George W. Bush, Nancy Pelosi, Hank Paulson, Ben Bernanke, Barney Frank, Chris Dodd and everyone in government voting yes to this plan want us to go screw ourselves, but not before we pay for this bail out. I’ve heard analysts supporting the plan repeatedly say that we should stop calling this a “bail out”. Well, what else should we call it? It’s not a loan.
The idea held up for the last 25 years by Reaganites and other free market capitalists, -that the markets will regulate themselves through a kind of Darwinian process where businesses that shouldn’t survive or that operate unfairly will fail- was clearly never intended to run its course by its most ardent supporters, they’re the ones asking for help.
The most egregious lie I’ve heard over the last couple of days is that the bail out could end up making money for taxpayers… but only if the loans and interest on them are fully repaid of course. Isn’t that what got us here in the first place? Why not give people the means to address their debt and save their homes, give judges absolute power to restructure the loans causing all the trouble?
Because working people don’t count.
We don’t count because we frequently vote against our own interests and focus on stupid things of no material consequence to our lives. Every idiot who came out to vote because they wanted to support candidates who opposed Gay marriage owe the rest of the nation an apology for electing these crooks who presided over this era of criminal greed.
This is not the way to bolster and stabilize Wall Street. It may actually allow the depreciations and losses in the real estate sector to freeze in place if not get worse. I’m not forgetting the poor saps like me with 401Ks, -but again it’s our money, our taxes, so it should help the people, the homeowners in debt first. There’s nothing in this plan that aims to safeguard retirement plans imperiled by Wall Street’s latest excesses in any case. Let this bail out “trickle up” to the investment banks instead. It’s more than they deserve but I guess they just don’t want to wait for it to trickle up… and they won’t have to, because again we’re a nation of suckers.
In conclusion I want to express this simple thought to you after years and years of us all being assaulted by or vegging out to television shows like “Lifestyles of the Rich and Famous”, “MTV Cribs”, “The Hills” etc:
It’s okay to hate the Rich.
They are not better than you.
They do not deserve more protection than you.
They are not entitled to your tax dollars.
They are not entitled to a different set of rules.
You will never be one of them.
It’s our love and worship of the Rich in America that emboldens someone like Henry Paulson to even try asking for 700 Billion dollars in taxpayer money with no questions asked, no accountability to anyone to spend as he pleases…
To that I can only say:
"Get the fuck out of here Mr. Paulson."
I mean seriously.