So after many months of being nagged to blog on his fabulous site and listening to all the fantastic things my husband has had to say in his blogs, I fianlly am popping the cork on blogging rhodesnetwork style.
In all that has been going on in politics in the last few months, the one thing that has really rocked my boat and has me ready to try walking on water, is the idea that George W and his Wall Street CEO turned Treasury Secretary buddy would even suggest that we should foot the bill for bailing out the failing financial firms on Wall Street.
If you know anything about business, you know that businesses fail. Sometimes really big businesses fail. This happens everyday.
When a manufacturing business in small town, podunk nowhere fails and takes down the whole city with it you don’t see the government swooping in with the fraction of the money it would take to repair the damage.
When the housing market crashes and takes down 100,000 families with it month after month, the Bush administration swoops in to “rescue” the coorporation that made the bad loans in the first place in stead of the American people for whom they are supposed to be working.
The other thing to note about business is that NOTHING happens by suprise. This did not happen overnight and you can bet the Wall Street numbers junkies saw it coming years ago. They spend millions of dollars every year tracking every cent of their profits and losses. Even if they were cooking the books for the public, they knew damn well what was happening AND THEY LET IT HAPPEN.
I think the timing is just a little too convienient. The Republicans see that they are losing the election and offer up a ridiculous plan in the middle of the night and attempt to bully those even in their own party into voting for it with out proper discussion. All this to create so much debt and crisis that the newly elected Democratic President would have no choice but to raise taxes. Then they could point to the Democrats and say look…they raise taxes every time! Only because the Republicans make such a mess of our country they have to come in and clean it back up. But they are in for it with Barack Obama… the corporate giants and wealthy are the ones who will suffer.
So, if we don’t bail them out, what should we do?
Our elected officials in Washington who are busy predicting fire and brimstone should be focused on legislation to protect the American people from the repercussions of letting the businesses fail not trying to stop them from failing. Let them fail!
Their responsibility is to the majority of the population not to the shareholders of major corporations and banks and their executives.