After listening for a whole 12 minutes to Bush's explanation of the now so called "rescue plan" his scare and fear tactics blazing across the screen, one has to laugh. Not only for the whole 12 minutes of his time but for his insane speech. We are to get scared and now stop all our negative comments and support this man who wants to spend 700 billion dollars that he does not have on companies that went under or else we are going to feel the consequences.
What consequencies - what does he think 700 billion dollars is?
Slip into a financial panic? Wow, 700 billion dollars, you mean it could get worse than that?
It is going to handle everything. Yeah, If I had 700 billion dollars of peoples money I could handle everything too! I could handle world poverty with that money. I could pay for ethanol to be set up and solar power in every home, apartment and business. You would see the economy rise then because people would actually have some money under the mattress. You notice I didn't say bank.
He belongs to a family of oil tycoons. We are the people and if we see a million we will be very lucky.
He used the same scare and fear tactics with "Weapons of Mass Destruction" we went to war over terrorism but it is war for oil. Now we are going to war over finances?
Yes, it is a problem. The money will not bail out the economy nor will it handle the problem. No one knows if this will work because whatever caused it is not being addressed. Instead people are going to get more and more restriction on how to live. People should be given a chance to own their own home with afforable interest rates.
In the great depression over 40% of homes were foreclosed. Today it is 6% that is being foreclosed. We will have failure if we allow the government to do this in a natural market process.
The hysteria is meant to cloud our thought. The market is not frozen. Interest rates are higher than last year. Commercial loans are at an all time high. People are buying and selling. Merrill Lynch was able to sell the bad assets and was then bought out by Bank of America. JP Morgan Case is buying out WA MU.
It is only the big corporate entities on Wall Street. Why should we worry over people who disagree with what they think their assets are worth, that is what an inactive market means, nothing else.
They are only a few companies and are not the basis for our economy. That is what is laughable. They cannot take a look and see what really will boost our economy. They have to use unusual solutions that are based on unethical practises. They make such a huge deal of the 6% making it sound like it is huge. While they could take that money and bailout the homeowner and tell these corporations to go to the bankruptcy court like the rest of America, why, no! That would be too easy.
So, what have these people done with the money? Their loss can't be from the 6% of homes that are foreclosing they are multi million dollar companies. We are taking insurance here. My, they didn't raise their rates? They didn't have that many claims to make them bankrupt did they? A bank, banks have failed before. Just proves that they cannot handle money so why give them more?
Okay, so we are to bailout people who make million dollar salaries and are going to million dollare severence pay, we get what?
This is not the only solution. There have been many brought before congress by the members of congress themselves. But that is not the point is it? We have to put up with the grunt of everything. The taxpayer who gets taxed for everything eating and breathing. Oh, they will put up a fuss, the congress will pretend they disagree and then all of a sudden we will be told they have a solution but we the tax payer will still never know what it really is. We will still have to bailout the irresponsible.
Reward the felon penalize the taxpayer.
This would also give an absolute to the people who are approving this bill. Bush and Paulson would have no accountability. It would mean that no one, no one, could take this up, the bill, it's contents or the disposal of these funds would be allowed in a court. Not even a judge could see the plan.
As it is, not even congress will be able to see where the money will go. It is being left up to Paulson to organize who gets what and how much.
For a government who has already bankrupted our economy (they wonder why people don't want to spend) they have a lot of nerve offering this solution to companies who have run them in the ground and still taken million dollar paychecks.
A few companies will not destroy our economy. Only 700 billion will. Business comes and goes. Why not the big guys. What makes their kneck so precious? They are in treason. We are taxpayers.
This 700 million dollars could be better spent on supporting our farmers to produce healthy, organic foods so that we are once again self sufficient. It could be spent on ethanol production that would free us from the chains of foreign oil. It could be spent on the taxpayer who still needs to eat.
The major concerns that need immediate help that would most certainly boost the economy are:
Improve the lives of the poor, more incentive to work, keeping people in the workforce not earlier retirement, and more help with dicrimination in the families ie, single parent.
But let's not help a couple of companies who if they went away other smaller businesses would have the chance to start or take over and make a living.
What was your first thought when you heard they were going to bailout? Mine was no way, they don't deserve it!
If that was the little guy or me they wouldn't give it a thought. Government doesn't get involved in business.
So, now because you are told to be scared, warned that there WILL be dire consequences do you agree that they need bailing out?
If we were watching a movie we would all be saying no, no, don't do it! He's only trying to scare you into it! Yes, we would be right, he's after the money for some covert op.
This is not a movie but it sure represents one. No one in their right mind would ask a people to forfeit 700 billion dollars for a few companies and expect us to keep quiet and allow a bill to be passed that we can not look at it.
They are only a few comapnies and they are not the basis of our economy.
There may be hard times. There may even be a real depression but we have a new government coming in and hopefully things will take a better turn for all. But, I know that I could go to bed and sleep at night even if I was losing my home because I would know that taking 700 billion from people was wrong. Deep down in my heart I would know. I am not scared.
FDR said in his First Inaugural Address "The only thing you have to fear is fear itself".
If you let them scare you, they win!
