for once, the american people won

I promise that I'll stop talking about politics one of these days, but for now, it's really all I'm thinking about.

Today's obsession was the bailout bill. I for one, am completely happy that it didn't pass. I'm not saying that we don't need to do something. We do. That is certain. But Congress didn't even look into getting opinions from, say, economists not on Bush's payroll who know what they're talking about before trying to vote on Paulson's bill. I'm glad that not all of the Congressmen and Congresswomen felt like it was ok to give the a-holes who got us into this mess carte blanche loans. They never answered sufficiently why $700 billion was the magic number. Why not give them, say, $100 billion and see where that gets us, then if they need more, give them more. Let people who know what they're doing regulate the money and decide who gets what. Instead, Bush wanted to make sure his rich, evil friends remained that way, and expected us to foot the bill.

From The Daily Kos:
The polling is clear -- the American people, me included, aren't pretending there isn't a finance crisis. But they want a solution that doesn't reward the "evildoers". This one did. Next time, let's put the burden of the bailout on those who deserve to bear it, not on those of us who were never invited to that party to begin with.
Hopefully, the next bill they write will be more clear and not let the bankers off the hook.

I can't wait until Bush is no longer in office.


Rebel said...

ditto ditto ditto.

I'm not an economic whiz or anything. But even I could figure out that giving everyone and their grandmother loans that they couldn't necessarily afford to pay back was a bad idea. And I also could figure out that taking a loan with a super low *ADJUSTABLE* rate wasn't a great idea either... since you know, it could adjust either way.

The people who got us into this mess were stupid and greedy and I for one don't feel like paying for it. The shit's going to hit the fan, and it's going to be bad, really bad, for a lot of people... I just want some of the 'really bad' to be hitting the people who got us into this mess!

d said...

ditto. it makes me extremely angry that the ceo's of these banks that made the bad loans will get to retire with millions of dollars, but sally down the street is going to have to declare bankruptcy and lose her house.