Who Should Profit From The Bailout?

The quick answer is–not the pigs that put us in this trick bag of debt and crisis.

The situation is so dire that some type of dramatic action is needed to avoid disaster for U.S. workers. Organized labor, community groups and others are increasingly angry at the bailout currently on the table. Any plan before Congress must:

1) Protect homeowners faced with foreclosure by restructuring mortgage rates to be in line with family income.

2) Create economic stimulus for working people and small businesses.

3) Provide $100 billion in emergency relief to state and local governments wracked with budget cuts and diminished tax revenue.

4) Bar CEO severance packages and cap the pay of executives receiving a bailout.

5) Regulate banking and finance with transparent public oversight.

6) Maintain public control over monopolies like Fannie Mae and Freddie Mac that have a decisive role in the economy.

7) Control speculation and increase revenues by taxing large financial transactions.

There is another drag on the economy that should be stopped–that is the War In Iraq which is costing in the neighborhood of multiple millions of dollars a day.

Developments are moving quickly and their full impact has yet to be felt, but let’s make sure that American workers — those who made this country rich — do not further suffer at the expense of the financial elites, those who have created this crisis.

I realize that I am not in the loop when it comes to the economic big-shots in Washington, but most of America is angry with this bailout.  Then I say find away that thew average person has a reason to support it.  Why?  Oh never fear, there will be a bailout, but the question should be who should profit?

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