"Our" government wants American taxpayers to bail out a failed system so they can continue on without having to change. We all know something is terribly wrong. Failure is a sign. And mass failure is a sign we need massive change. But that's not what they want.
They want close to a TRILLION DOLLARS of our money – so that they can go out and play the system for more – and get even richer (at our expense). These inept corporations blew the billions and billions they had. There is nothing anywhere near a guarantee that the bailout will work. And ironically, some of the bailout money will go to continue to pay the multi-million dollar paychecks of these bungling executives.
In case you don't remember, this isn't a one-time bail-out. The pattern of deregulation, corruption, and bailouts happened back in the 1980's with the Savings and Loan debacle. We, the American taxpayers, have become their enablers.
I've been in this situation before, on a personal basis. I'm divorced from two beautiful, intelligent, and seemingly sensible women – who both had gambling problems. And I can tell you from hard-learned experience that giving them more money never, never, never fixed the underlying problem. It just made me more in debt.
They'll do this again and again, until we force change within the system. And the perfect time to force that change is now. They know that. That's why they're rushing us.
They didn't just figure this scheme out a few days ago. Important people in Congress warned us that this would happen within 10 years (9 years ago, when Congress dropped all the regulations that would have prevented this). And the mortgage crisis has been transpiring over the past few months now. You'd think they would have figured out at least a few things they could do better. But all they can talk about is the money.
The only thing these “captains of industry” can come up with is; “give us a trillion dollars in a week, or we'll cause another depression.” That sounds like a ransom note.
They just want the money. They don't want us to force them to be fiscally responsible.
Where are the constraints?
Where are the regulations?
Where are our nation's demands?
Where is the leadership?
These people go crazy with greed when they smell money. And they don't want regulations to hold them back. Once they get our trillion dollars, they will fight any form of regulations to control them. And all they have to do is buy off a few Republican Senators to filibuster any bill that is intended to keep them from repeating this disaster. They don't believe in government oversight. And up until earlier this week, neither did many Republicans. They just want our money. If they wanted the system to run effectively, they'd have some ideas for sensible regulations right now.
...It is true that I'm no financial expert. But apparently, neither are these highly paid executives... But I could be wrong about that. Maybe they don't want the system to run effectively. Maybe they figured out long ago that they could rip off the poor, and when things went wrong, they knew they would get bailed out by the middle class.
Which brings me to my point. This bail out will cost us close to a trillion dollars – and maybe more. Our national debt is up from four to nine trillion dollars from our surplus back in 2000. And the “war” will ultimately cost us somewhere between a trillion and three trillion dollars. That adds up to some real money – which we don't have.
So, where is the money going to come from? Bush Jr. cut taxes for the rich. John McCain (the Old-boy network flip-flopper) doesn't intend to raise taxes. Barrack Obama only wants to revoke the Bush tax cuts. So let's face it, the money just won't be there. Not even the rich have that kind of money... So, what are they going to do? Apparently, they're going to print money. And what does that lead to? Inflation. Maybe even runaway inflation. I don't see any way around it. And what will that mean? It will mean that they will be taking money from your savings. What money you do have will lose its value.
If you are middle class, and have some money saved for your retirement (say in a 401K), it's very likely you may as well say goodbye to it's present value. And that money you thought you had waiting for you in Social Security – don't expect it to be worth anything.
And don't expect John McCain, or even Barrack Obama to fix this. By the time one of them gets into office, the damage will already be done.
Which means one thing. We have less than a week to see that the right things get done. Which isn't enough time to organize. I suspect they planned that. However, if you want a future with any retirement money and a paycheck worth anything, we had better get off our butts. There won't be a second chance.
If things keep going in this direction, there won't be a middle class... and these people don't care.
Write your Congressmen NOW!
Let them know you do not want them to be a pushover.
This is the perfect time for a Democratic filibuster in the Senate: Don't give them a dime until they agree to fixing the system. At least they can reenact the Great Depression Era laws that would have prevented this.
Or, if you are like me, ask them to consider some other alternative. I can't tell you what. I don't know myself yet. But, for a simplistic example; what if we gave the money to those who's homes were in foreclosure to pay off their debt? The mortgage companies could have their money anyway, and presently overlooked American citizens could keep their homes.
Sadly, there isn't time to promote any well thought out plans. If we could think this through, we could be at a turning point here. It's time to fix our systems. And you don't fix things by throwing good money after bad.