Sunday, February 15, 2009

The Big Fat Hairy Bailout Bill

Oh, Baracky, I have some problems with this bill, as do most Americans. First, don't shove 1,000+ pages and expect a vote in a day or two. Not cricket.

Second... I'm going by what's been reported, since I haven't actually seen the text, but there's no reason to "save" failing banks and financial institutions. A free market economy should include the freedom to fail; otherwise it's no longer a free market. Forgive us if we're a bit suspicious. These same institutions poured slop in the trough in the form of $300+ million in campaign contributions.

Third... (related to #1) please give us a chance to make sure that this bill does have requirements, conditions, stipulations. I don't care if corporate jets and golden parachutes are red herrings; they are hot-buttons with the tax-paying public -- the rapidly-shrinking tax-paying public -- and warrant attention.

I hate to see us rush into some bad decisions; postponing action just long enough for reasonable debate and exploration is smarter than ratcheting up the hysteria by shoving this bill through without it.

Why is Obama Reluctant to Kill the Zombie Banks?

3 comments:

Beth said...

A friend and I were wondering about something. Where has all the money gone that's been "lost?" Someone must have it! It wasn't put in a bog pile and set on fire, was it? So, I say, let's find out who has it all and make them give it back. :)

Beth said...

Oh, gosh. Can you change that "bog pile" to "big pile?" I have no idea what a bog pile is.

La Cootina said...

I understand your question. Companies are now worth less, and can borrow less, invest less, etc., but it's sort of theoretical money, isn't it? Except that my IRA is worth about half what it was...that's not theoretical.