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.
Monday, October 06, 2008
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5 comments:
If you just divide it up among the taxpayers, they each get $3.5m. This guy already proposed that: http://www.paramuspost.com/article.php/20080925143233101
There should be something the public could do when Congress acts against the pleas of the governed. Our only option should not be confined to waiting until we can vote them out of office.
I suppose you are right, except we are a republic and not a democracy. In a democracy, it is the politicians responsibility to do what they feel is best for the people, even if it is against the peoples' will.
Check out www.strike-the-root.com/vote.html, when you get the chance.
my bad, I meant to say - In a republic, it is the politicians responsibility to do what they feel is best for the people, even if it is against the peoples' will.
I saw that but was going to let it ride. Thanks for the correction.
I've felt it was a strength that the legislature would be made up of good men and women that would be able to make decisions for the good of the country.
This experience - extreme and costly measures - may prove me wrong. I hope I am wrong. I hope the bailout package will work as intended. I don't think it will, though.
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