These prescriptions are attended by a recitation of nightmarish scenarios: tightening in the credit market, vanishing retirement savings, the next Great Depression. And it's all going to happen if we don't ACT TODAY, FOR TODAY!
The Democratic leadership's capitulation to the Bush administration on this proposal is DISGRACEFUL!!! They caved on wiretapping, they caved on immunity for telecommunications companies, and they caved on offshore drilling. When? WHEN WILL DEMOCRATS STOP WORKING FOR PRESIDENT BUSH!?!?!
They have good reason to fear their constituents on bailing out Wall Street. The party is completely worthless if they cave to a lame-duck president on a shamelessly elitist bill that passes the buck to the next generation.
Look at who this bill benefits. Look at who voted FOR this bill: "Lawmakers," the New York Times reports, "who voted in favor of the bailout bill have received 51 percent more in campaign contributions from sources in the finance, insurance and real estate industries...over their congressional careers than those who opposed the emergency legislation."
"No, no, no," lawmakers chuckle and shake their heads. This bailout is for your benefit. You just don't know it now, and you probably never will, and we'll be working as consultants to the very financial institutions we're bailing out via the wonderful DC revolving door by the time you have misgivings.
This bill bandages the market woes for today, and the problem with Congress is that when it ACTS TODAY, FOR TODAY, the next generation loses. The future of the entire country is tossed into the wastebasket for the pathetic generation that is controlling Congress.
The pathetic generation that spent its rebellious privileged youth high on dope and cheap gasoline, that spent the 80's high on the rhetoric of Gordon Gekko and Ronald Regan, that spent the 90's making millions in the Greenspan economy.
"If we can just keep this sucker afloat for another decade or two," these irresponsible parental figures say, "we'll die rich and never have to lift a finger to do a day of actual work."
The mentality governing Washington DC right now as it rushes to approve this odious $700 billion bailout is: "Ask not what you can do for your country, but what your country's taxpayers can do to make the lives of the luxury class luxurious until the very end." Meanwhile, debt piles up, the crisis is postponed.
I'm glad that Congress has found a sense of purpose and excitement spending long hours in marathon negotiating sessions eating pizza until early morning. But...IT SHOULDN'T JUST HAPPEN ONCE EVERY 50 YEARS! Right now, Congress only works four days-a-week. Sometimes it's only three days-a-week. THIS CONGRESS OUGHT TO BE SPENDING 6 DAYS-A-WEEK IN MARATHON NEGOTIATING SESSIONS FOR THE NEXT FIVE YEARS FIXING THIS BROKEN COUNTRY! EAT ALL THE PIZZA YOU WANT ON OUR DIME.
Where is the leader in this powerful nation who will rouse us up from our pathetic slumber, our pathetic hangover haze and call us to bear our muscles beneath the sun? To work this land? To toil for a day of honest work?
Right now there is no substance to our economy. Take a drive around. What do you see? The vestiges of an industrial country. Weeds in the railroad tracks beside dilapidated grain silos, boarded-up textile mills and ghostly no-man's land that once brimmed with industry.
You'll also see a thriving pizza shop, hotel, car wash, and laundry mat.
Here's a simple math problem for you: Bob works at the pizza shop and spends his money at the car wash. Alice works at the car wash and spends her money at the laundry mat. Joe works at the laundry mat and spends his money at the hotel. Gertrude works at the hotel and spends her money at the pizza shop.
Question: If this sampling of industries (the service sector) represents the entire economy...how much money is passing between Bob, Alice, Joe and Gertrude? NOTHING. Zero. They all starve to death.