Nothing can stir the warm cockles of talk radio faster than Democrats and Republicans arguing about who can help America better. The latest crisis of financial irresponsibility that has come to boggle the imagination of the man on the street is no less as such! At last word the proposal to save the economy from fiscal destruction is an 840 word legislative bailout, valued at 830 million dollars per word according to the experts. In Washington as you can tell, talk is never cheap.
But quite frankly like the Patriot Act, the desire to ram this bailout proposal through without anyone reading it should have you and I very upset. While the Patriot Act was a telephone book and an half and few admit in public that they read it before signing off on it, the consequences of passing it have had far reaching effects on our basic rights. Passed in a time of heavy fear and under an administration that said the barbarians were at the gate, and that the Act was our only chance to remain alive, the Act has come to represent the worst of what we can do, when we don’t stop and think before acting. That was untill now!
This bailout is much worse. Caught up in what almost gives the impression of a game of three Card Monty, the American people in reality have a very limited grasp on what is actually being bailed out. Are we bailing out investment firms that own mortgages people aren’t’ paying? Are we bailing out local banks caught up in lending to people who should have never gotten mortgages in the fist place that are about to go belly up effecting our bank accounts? Or are we bailing out investors who took a risk and lost? It’s all a real mess. Wall Street seems poised on the brink of ruin to hear all of the chicken littles on the financial news networks. Confidence in investing is ruined, and China is demanding we protect their investments or their will be no Christmas for any of us!
But the key insult to injury is that in this bailout there is a a free get out of jail card. The proposal supposedly written over the weekend by our Treasury Secretary himself a former Wall Street Captain’ a man appointed by President Bush you never elected, states that once Congress passes this thing, there will be no questions asked, no guilt assessed on him or his department for anything they did with the money.No wonder candidate McCain and Obama are not supporting it yet! It will be in effect the key albatross around their necks for years to come.Would you give a man you don’t know, a check for all the money in your checking account?
Yet, believe it or not, the ones we elected are about too! There is no money for health care. No money for bridges or infrastructure and little money for our schools. but there is plenty to save Wall Street!! Hmmm. Believe it or not!