Debate continues in Congress on the proposed $700 billion bank bailout. The rickety stock market slumped again as investors awaited the outcome of the Senate bank rescue hearing. One informal internet poll with 143,046 respondents had 52% rejecting the whole plan. People are just not happy that the “fat cats” will be getting free money. Here are some comments from around the internet. I could find precious few that were in favor of the bailout:
- “I don’t see any reason to give Henry Paulson $700 billion in taxpayer money.”
- “With this bailout, Paulson has effectively legitimized financial fraud.”
- “Let the chips land where they may.”
- “I knew I should have just overspent like everyone else and then let someone else pay for it.”
- “Write your local congressmen an email… say ‘NO!'”
- “I just don’t get it. Why can’t we just let some of these companies fail?”
- “We should let Wall Street crash and burn just the way ordinary Americans and small businesses have been treated.”
Now recall the stimulus checks where most of us received $600 from the government. Was there a great outcry against the borrowing of $152 billion to finance this election year bribe? Not that I can recall. All I could muster was, “I cannot think of a more stupider plan!” Except perhaps for a second round of stimulus checks. How totally silly, such incredulous bogosity. But I still put my $600 in the bank and said, “Thank you very much, Sir.”
Now consider if the rest of you, unlike me, had protested strenuously to your elected officials that you wanted no such stimulating. You would have explained to them the foolishness of borrowing billions only to have to pay every last $600 back with interest. Do you think that Congress then would even dare to debate $700 billion for bankers? Well, maybe they still would have.
Seems to me that one of the most prevalent comments is the best solution of all. Come November, “just vote the bums out.”
Do you have any citations for the facts mentioned?
Specifically?