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Edited on Sun Sep-21-08 08:46 PM by MN Against Bush
So George Bush is asking us for a favor before he leaves office. He wants us to give him a trillion dollars so he can give it away to his friends on Wall Street. These friends of his do not have to do anything differently in exchange for this money, they can just go back to their old ways and we can all just hope this doesn't happen again.
What if this does happen again though? Are we supposed to keep another trillion dollars handy so we can keep doing this every time a large corporation fails?
We are being robbed blind, we are getting stuck with a massive bill yet it looks like we aren't going to get any real changes in exchange for our money. I am ashamed not only of the Republicans but of all the Democrats who are not fighting this tooth and nail. I recognize that we can not allow the economy to collapse, and I recognize that vast sums of money will be needed to fix our situation. If our Congress just hands away a trillion dollars without placing some serious conditions on it though then they should never be forgiven for what they did. This is public money it is not Wall Street money, the public deserves to get something in return for the sacrifices that are being asked of us. If we are expected to spend a trillion dollars then we need to spend that money to reshape the entire system. The current system failed us, and we need to create a whole new economy.
When a corporation gets so big that its failure can cause a world-wide financial crisis we need to ask why that corporation was allowed to get so big in the first place. We need to learn something from this experience, and we need to recognize that large corporations are a threat to our national security. We can't afford to be paying out hundreds of billions of dollars every time a large bank fails, we are going to have to start breaking up the corporations using anti-trust measures so that we can ensure that no single corporation is so large that it could pose a threat to our economy.
While I don't doubt that the current situation is dire and needs to be dealt with immediately, our Congress has a duty to demand serious changes to the system and any bailout package needs to specify those changes. While I agree with the Democrats that there needs to be provisions to help people protect their homes from foreclosure and to limit executive compensation it is ridiculous to suggest that those provisions go far enough that they justify a trillion dollar price tag. If I am expected to give away a trillion dollars I expect some massive changes to be made. Simply reducing the size of a CEO's pay check is not good enough for me, I want assurance that no one is going to allow this system to continue.
Make no mistake about it, this is something that will piss the public off severely. Yes it seems people are pretty apathetic sometimes, but when Americans feel their pocket books get hit they get pissed off about it. I could seriously see this as a major turning point in American history, this could be the moment that everyone realizes they have been screwed and finally does something about it. Everyone knows that a trillion dollars is a lot of money, and they are not going to like paying out that kind of money to a group of people who fucked up so badly that they put the entire global economy in a serious crisis. Believe me this issue is not going away, and our members of Congress better realize that the taxpayers do not want to be handing out blank checks to corporate America.
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