Sorry guys but the money will not last much longer. Eventually the government is going to have to just let one of these large speculation firms fail.
There was Goldman-Sachs, Fannie and Freddie, Lehman Bros, Bear-Stearns and the list will most likely continue and at some point we will have to stop the bailouts. Unfortunately, there is NO limitless supply of funds. The question is, when will the American voter decide enough is enough?
The plan, which is being rushed through Congress for passage this week, is the response of the government and the entire political establishment to what is acknowledged to be the greatest economic crisis since the Wall Street crash of 1929. It calls for an unprecedented transfer of public funds to the major banks and the American financial elite at the expense of the broad mass of the people.
Both the plan itself and the manner in which it is being imposed are deeply undemocratic. Exploiting the breakdown in US and global financial markets, the financial aristocracy, which is responsible for the crisis, is exercising its control over the government, both political parties, and the media to implement policies of the most far-reaching character without any genuine debate or discussion. As in the aftermath of 9/11, it is seeking to utilize the crisis to push through policies that would otherwise be considered entirely unacceptable.
None of the measures being carried out changes the underlying causes of the financial meltdown, nor will they resolve the crisis. At most, they will only postpone the day of reckoning.
This flagrantly unconstitutional provision establishes the unelected Treasury secretary as a law unto himself, beyond the control or oversight of Congress, other executive agencies or the courts. Two things need to be said of this provision: It makes overt what is normally hidden behind the trappings of American democracy—that is, the dictatorship of finance capital—and it implicitly acknowledges that what is being proposed is a violation of law. Why else insist that no one be allowed to challenge it in court?
Without some sort of oversight—then I say no to this attempt to just help the speculators that put us in this crisis.
A $ FLOOD OF SUCH PROPORTIONS WILL CREATE STILL MORE INFLATION, WHICH HURTS LITTLE PEOPLE AND THEIR BUSINESSES. AND BARNEY F. et al, THINK THE BAILOUT OF CHRYSLER WAS A GREAT SUCCESS! LOOK WHERE IT IS NOW, STILL BUILDING CARS BUYERS DON’T WANT AND SELLERS CAN’T SELL! HOW MUCH BETTER HAD THE POLITICIANS HAD THE COURAGE TO LET IT DIE! HORACE MCCOWAN
I agree Horace and welcome. This bailout is for Wall St only, the average person has no say.