Let me begin by saying that I am no economist. I can't even balance my damn checkbook. But this bailout stinks. I mean, really stinks.
Now, since George W. Bush stole his way into power over 7 long and gruelling years ago, I have become something of a conspiracy theorist - don't ask me why.
Everything that originates or passes through the current White House reeks of foul play. Not a single word can be trusted. Clouds of suspicion and distrust waft from the White House like never before.
I do not trust our President or our Vice President. I do not and cannot trust our Secretary of State or Secretary of Treasury. The EPA is laughable. The National Security Advisor is a puppet. I do not trust Karl Rove. It might go without saying that I do not trust the Federal Reserve, nor it's chairman. I most certainly do not like or trust Mukasey. Robert Gates is actually growing on me though..... but you get the drift.
After the 2000 election, the 9/11 suspicious and still largely unexplained attacks, the subsequent 9/11 Coverup Commission, the Iraq War and WMD hoax, the Bin Laden hoax, Attorneygate, CIA ValeriePlamegate, secret torture, domestic spying and all the rest - how can we possibly trust anyone even loosely associated with the Bush White House on this one?
I cannot.
And thank God Congress cannot. Though I fear a pathetic caving-in within days...
Why would we bail out Wall Street? Why would we instantly feel compelled to throw $700 billion dollars that we do not have (thanks to the Iraq War) at a problem that we do not yet fully understand? Where is this money going to come from? China? Who will be getting this money? Why would we put this sort of extraordinary power and responsibility in the sole dirty hands of yet another Bush administration official? This stinks.
I say - let the economy collapse. Is the stock market really propping up our flimsy little economy? The mortage crisis? Can the greed of a handful of creepy executives, manipulators and risk-takers really sink the entire US economy? What happens if we don't buy all those toxic mortages? I know I don't want my hard-earned tax dollars going to that. What happened? What happened to our schools? What happened to our hospitals and our health care? We have borrowed nearly 800 billion dollars to ruin two foreign and faraway countries (the GWOT - Global War on Terror) and we need to borrow another $700 billion for this? What am I missing? Probably a lot, but I am pissed. Maybe the end of credit isn't such a bad thing. Maybe a "collapse" is actually a painful restructuring of our economy of credit. Who knows, but this stinks.
I have heard, in my conspiracy circles, that the Great Depression was caused much in this same way - the over-leveraging of stocks by the elite of the elite. Using someone else's money to buy things that don't really exist, speculate on the future of these financial "products" and sell these "illiquid" fantasy assets to someone else for a large profit. Or something like that... Some say that the market was intentionally crashed by the Federal Reserve, who were testing their new power. It all is over my head, but I find it hard to believe that this could not have been prevented, foreseen, prepared for, or somehow altered. Or if it is even true at all.
How could our President, John McCain, Ben Bernanke and others flatly tell the whole world that the American economy was "sound", "solid", on "sure-footing" and "not to be alarmed" - and then a matter of days later, the sky is literally falling. Our flimsy little economy, propped up by little more than a wing and a prayer - is now on the brink of collapse, which could somehow deflate the entire global economy? All because of a sub-prime meltdown hoax? Who was asleep at the wheel on that one? Yeah, right.
Let's say that I have 500 bucks in the bank. What will happen to my little pittance if the stock market crashes? I won't get it? Someone else will get it? Will my little community bank fail? Is that $400 even my money once I deposit it? Will the entire economy collapse? Will I get fired from my job? Will the cost of goods and services immediately shoot through the roof? (More than they have already this year?) I guess it's easier for me to say - I'm a renter. I don't have a stake in the Stock Market. Or do I? How will all this affect me? Someone needs to explain that A LOT better than they have so far. Why do I need to be ordered by my government to step in a and finance this greedy, corrupt little trick by the banking cartel that already dominates all of civilization? Beats me.
Well, I'm still not scared enough to support this bailout.
And what of the @#$%ing bastards that caused this mess? Or the evil @#$-&%%^$$#@- @##%$sons-of-s%$%##$#$ who were supposed to be watching over our economy, watching over our banking systems, protecting our national financial security? WHAT ABOUT THOSE SCOUNDRELS? I have yet to see a single head roll. Not one executive has been fired, much less indicted. Not one government regulator has been reprimanded.
Politicians want to limit the amount of compensation for these unpatriotic and greedy criminals? Oooooh, that will teach them. What the hell? What about oversight from Uncle Sam? Who will enforce that? How will we prevent former CEO's of Goldman Sacks from becoming Secretary of the damn Treasury? How will we stop the revolving door between government and the private sector? This bailout addresses few of my concerns. But it spends a lot of my money. And Paulson gets to decide how to spend it.
No thanks.
The Obama Presidency can't come soon enough.
President Bush said that this bailout package need to be passed by last Friday, or we could face a national panic. Well, it's Tuesday and I still have my job, I ate dinner tonight, and I still have my $400 in the bank. (more like $350..) I'm calling bullshit, George. I don't believe you and I don't believe anyone in your administration.
You have lied to me too many times. It is on YOUR watch that our great country was attacked by "terrorists" and it has been on your watch that the entire US economy has somehow been destroyed. It's up to you pal. I say: you fix it, jerk.
Get your Dad to bail you out again. He's made plenty of money from the Carlyle Group recently.
Get old Dick to cover you - we all know Halliburton has been raking it in in the Middle East.
But don't take my money. It's your problem, not ours.
Get on the phone and start talking to some CEO's. Pass the hat. I don't care.
You are a disgrace and this is the final straw.
The total collapse of the global economy certainly would be the final verdict of the Bush administration.
Just like Obama said.....
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