Monday, September 29, 2008

The Bailout

Here's my opinion: This is all bullcrap. This is what happens at the end of the con game, you clear out the last suckers. This $700 BILLION DOLLAR bailout is pure theft. It is supposed to avert a recession. I have news for you, we've been in a recession since the summer of 2001, before 9/11. It has been a recession of main street, on the ground, where people actually live. I know, I was out there and I watched it happen in my little storefront bookstore. Wall Street has been doing just fine, thank you, while the rest of us have been hanging on by our teeth.

How is the taxpayer giving Wall Street money, so they can lend it back to us AT A PROFIT, smart? The thing to do is to sure up the FDIC local banks. Bailout the individual families still in homes by renegotiating their loans -- with a slight penalty for signing a mortgage they could not afford. Then let Wall Street sink or swim. They wanted to play with the big dogs, then deal with the consequences.

Wall Street is NOT our entire economy. 401(k) plans are for the long term and will recover in time. We, the people, need to be looking out for ourselves and not Wall Street executives. If the shoes were on the other foot there is no doubt at what they would do. We need to bring back reasonable, responsible, enforceable regulation to industry. (Trust me regulation is there for the little guys, it's the big guys who get away with murder). Eliminate the tax loopholes that make it profitable and advantageous to send our manufacturing overseas thus creating JOBS in the US. And for God's sake, people need to get smart.

We've been very good at playing dumb. Somehow along the way America got the message that to be dumb means you're just good folk. That's simply not true, you are just dumb. We've allowed this nonsense to go on for far too long. READ A BOOK. Teach basic finance in high school. Develop an American understanding that we are all in this together. There is no BLUE America or RED America, as someone so famously said. I would add there is no BLACK America or WHITE America. There is only the United States of America. And if we don't take care of each other, then nobody else will.

Oh, yeah, one last question, where is McCain? He said he was suspending his campaign to make it through this crisis. Hmm, where is he?


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