We are informed that things are so bad that failure to pass this legislation will be disasterous for the economy
That might be true.
But that suggests that we also do not REALLY know how bad things really are, too, doesn't it?
Now if you ask the question: Are our banks insolvent?
Their answer is "NO, don't be concerned...you are protected by FDIC."
That's not really very comforting. That means that banks are depending on the taxpayers to recover the taxpayers money from banks which really can't cover the deposits, doesn't it?
So things are either VERY BAD, and this bailout is their best plan to fix it the mess that they've made of our economy..
OR..
Things are not so very bad, and this bailout is just an excuse to make some insiders very wealthy.
Personally, given the fact that BUSH II was persuaded to change the game of supply side capitalism to the game of Kensyian capitalism, I SUSPECT that the economy is in fact, much more untenable than we're being lead to believe.
The government is up on a titerope.
On one hand it doesn't want to create a panic, but on the other it needs to convince us to spend a couple TRILLION dollars to keep the system going.
You cannot have it both ways.
Things are either so bad that they've got to change the rules, or they're not.
And if we're about the business of changing the rules, then by all means let's ALSO change the fundamentals which caused this failure of our system to begin with.
But they don't WANT to change THOSE fundamentals, because those fundamentals are what make the stupidly wealthy elites so stupidly wealthy to begin with.
Basically they went from merely extremely wealthy to obscenely wealthy by abandoning the working class and investing in industrial growth in other nations.
NOW, thanks to that stupid move, the American people are too broke to keep the consumer drven economy going.
It isn't like we weren't warned this would inevitably happen, ya' know. Remember: "That great sucking sound" ?
And yet I still hear nothing about changing that fundamental flaws in our systemwhich gave capital every advantage at the expense of the working classes.
And if you look at who is getting the lions share of this bailout money, we see it going to whom?
To CAPITAL, of course.
Per usual, I hope I'm wrong.
