[Tfug] OT: Bailout Bill

[Christopher Robbins]

On Thu, Sep 25, 2008 at 10:09 AM, Joshua Zeidner <jjzeidner at gmail.com>wrote:

>  Judd,
>
>  that is exactly the 'moral hazard' at stake.
>
>  for the past 8 years we've been sold this line where if we are good
> little capitalists, the system will work for us.  It was all about the
> raw markets we were told.  The wealth will come around.
>

There's an interesting book that (sort of) relates to this - Naomi Klein's
The Shock Doctrine - http://en.wikipedia.org/wiki/Shock_Doctrine

Confusing to me in all of this is how sudden this became a priority.  All of
a sudden
if we didn't pass this bill WITHOUT oversight, then the whole economy would
fall into shambles.  It's almost Friday, and we're still afloat (for now).
 I'm supposed
to trust the Bush Administration and his people on the urgency of this
situation?
I'm supposed to trust them with $700 BILLION, with no strings attached?!?
 These are
the same guys who told us Iraq had weapons of mass destruction and they were
going
to attack us in an instant.

It's not my fault the bankers screwed up big with mortgage-backed
securities.  And I don't
see why I, as a younger taxpayer, should have to bear the burden of a
bailout plan like
this.  It won't be the older folks on this list who get burned, but I and my
children will have
to bear this debt....And not just this mortgage-securities crisis either;
everyone from the
auto industries to the airlines has lined up to Congress with an open hand
asking for a
bailout.

I don't understand why we couldn't have gotten a better solution together
that doesn't
involve us bailing out these industries without a giant line of credit like
this and
without any sort of oversight.  And if we're going to bail out the bankers,
why don't
we help the home-owners too?  You could argue that these people got
themselves
into this mess, but hey - so did the bankers, right?


>  then, suddenly the big shots screw up.  and start singing the
> socialism tune.
>

It's a bit funny to see these Republican free-marketeers
suddenly start praising a bailout that goes exactly against the idea
of fiscal conservatism that they so often preach.


>
>  Its robbery.
>

Indeed it is.


  - Chris
-- 
Christopher P Robbins
Systems Programmer
Department of English - University of Arizona
1423 East University Blvd.
Modern Languages, Bldg. 67, Room 422
Tucson, Arizona 85719
Phone: (520) 621-3496
Email: robbinsc at gmail.com
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://tfug.org/pipermail/tfug_tfug.org/attachments/20080925/9fc2871e/attachment-0002.html>