Do you wish to make it a one time payment or would you prefer to spread it out over the course of a couple generations? Look, I am not arguing that the markets don't need help. Wall Street has put their hand out and the government is giving it all it wants. The one thing that life has proven to me over the past 20 years comes to this: the best interest of Wall Street does not always coincide with the best interests of Main Street. The prime example: A publicly traded firm lays off 12,000 employees. The stock prices jump. How is Main Street' best interest served in the loss of 12,000 jobs?
If this bailout did not spell out the first couple lines of Capitalism's obituary, I'm not certain it could have been much of anything else. There is already talk of a second bailout. Why? Because there is nothing to suggest this will work, we have to consider what our options are for a plan B.
I'm calling on congress to hold meetings, investigate, debate, hold hearings, instigate more investigations. This problem has not been resolved. We have a lot riding on this and we cannot wait to act.
$700,000,000,000. $2300 per capita. That is $2300 for every man, woman and child in this country.
Books I finished, mostly today
6 days ago