Oct 04 2008
Banker Bailout Bah Humbug
Editorial Cartoon from Chattanooga Times Free Press
Although there was SIGNIFICANT citizen opposition, and SIGNIFICANT congressional opposition, the Bush-Paulson Plan was Pushed through the Pathetic House in face of Public Panic.
Okay, too much alliteration, but it Really Rankles.
How is this different than someone just taking over all my debts, paying off my cards, or paying off my bank account overdrafts? What a great boon to bad bankers and backers. This $700 billion BAILOUT could have solved virtually every American’s financial problems for the rest of our lives if it was “divvyed” up amongst us all.
We have now–AGAIN–been reminded of where the real POWER lies in America. It is not in the hands of general public. We barely matter. I don’t see this changing either–not ever, regardless of who resides in the White House.
Let’s hope–hope–that there are sufficient safeguards in place to avoid this ever happening again. And IF–IF the economy recovers sufficiently, the U.S. Government may own a significant amount of valuable real estate notes. If these can be redeemed in the future, perhaps–perhaps, the public treasury will recover some of this money.
Meanwhile President Bush, the lamest duck on the planet, and Treasury Secretary Paulson, have established their reputations for future generations.
Yeah and the bankers have already siphoned off their money they traded into Swiss and Panamanian IBCs and banks and who has to fit the bill? The taxpayers..