Tuesday, September 23, 2008

Bush Plan To Bail Out Wall Street

Henry Paulson and Ben Bernanke want the largest financial bailout in our nation's history with no oversight and no accountability. I have watched the Banking Committee hearings on CSpan today with growing fear and agitation. There were moments of reason and sanity, mainly from Dodd, Hagel, Schumer and Tester. Newcomer John Tester was a star in insisting that there be a benefit to the homeowner whose house has lost it's value through now fault of his own, the farmer, the main street small business owner, the small town rural citizens who have played by the rules and worked hard all their lives--they should not be forgotten as the stake holders in this debacle. I am paraphrasing, but Tester and the others expressed incredulity that we, the innocent victims of misleading sales pitches for refinancing our homes and small businesses are now being asked to pay for Wall Street's excesses and Bush administration's determined lack of regulation and oversight. Paulson and Bernanke are giving us five to ten days to fork over our futures and any hope we ever had for a better life for our children, without rules in place and no idea what we're buying, and whether we will ever see a return on our investment in Wall Street's glutonous, greedy, frenzy of bloated bonuses and Golden Parachutes--which sounds every bit as obscene as it, in fact, is. Just for starters they want a trillion dollars of our hard earned. And we get nothing in return, and if they run off to Argentina with the loot, too bad, sucker!

10 comments:

Randal Graves said...

They love using Joe Sixpack of Main Street, Anytown, USA as the poster boy for populist Jesusery, but oh, do they loathe those people.

We aren't a Christian nation, we're a Gordon Gekko nation.

linda said...

thanks utah for sorting out the BS from reality and laying it out plainly...it is all appalling and that Bush continues UNimpeached and thrown in a hold somewhere is beyond me completely...must be some powerful machine that drives this insanity!

hope you are doing OK...

Comrade Kevin said...

I wonder if we'll see Bush's approval rating in the single digits soon.

Utah Savage said...

Comrade, we can hope.

Beach Bum said...

Heard one person on NPR today say that even if something is written into the bailout package preventing golden parachutes the architects of this disaster have enough high priced lawyers to figure other ways to funnel money into their accounts. I figure about the best thing for them is a lynch mob.

I wish we would see Bush's ratings in the single digits but there is an epidemic of dumb ass burning through the country so in a weird way his ratings might go up.

Utah Savage said...

Beach I have my pitchfork at the ready. Got your torch lit?

Liberality said...

It's their sneaky way of raiding social security I do believe.

DCup said...

Now we're learning that they waited until now to push for a bill?

They will never miss an opportunity to scare the American people into doing stupid fucking shit, will they?

Blueberry said...

My retirement plan is bleeding to death. Oh well, I sort of figured I'd be working 'til I'm dead anyway. There will be no retirement. No way no how not ever.

Anonymous said...

*


Recently an insurance company nearly wind up....


A bank is nearly bankrupt......filing chapter 11 protection.


How it affect you? Did you buy insurance? Did you buy mini note or bonds?



Who fault?


They bailout trouble finance company, but they will not bail out your credit card bills……And the bill out of company is still not enough yet…….You got no choice, and no point pointing finger but you can prevent similar things from happen again……


The top management of the Public listed company ( belong to "public" ) salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......because the top management will be concern about their own pay check…… And they are still spend big money on hotel stay and luxury function……..

Meanwhile if company was being acquired, there will be a great movement in terms of staff……eventually staff suffer also.

Are you a partisan?

Sign a petition to your favourite president candidate, congress member, House of representative again and ask for their views to not just comment on this, and what regulations they are going to commit and implementation the regulation, I believe should vote for the one who come suggest good implementation and let’s see who back up, which don’t implement after just mentioning in the election campaign.....If you agree on my point, please share with many people as possible.... Finance and Media are the two only industries can shaken politics ( Maybe Hackers can ), please help to highlight also...

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