we are all crazy

Seven Simple Reasons to Oppose the Bailout

the indispensible martin bosworth lays it out, in a quick seven-point elevator address you can gloaming explain to your unresponsive aunt millie:i’m not going to fade time with a preface. let’s just get right into why this is a massively bad decision.no oversight. the bush furnishing is asking congress to hand it a blank confirmation also in behalf of $700 billion without any controls or strings attached. this is the same corrupt government that has wasted uncountable billions in iraq through fraud, splice, corruption, and simple wasteful spending on unnecessary projects. the same r?gime that demanded interminable new powers of surveillance with only the most minimal carelessness to ensure that it is not abused. do you really think paulson is going to tell the reality in those reports to congress, or that congress intention viagra do anything down it if he lies?unchecked power. if this bill passes as written, it will repay henry paulson the most powerful man in america, with incredible leverage to utilize trillions of dollars’ worth of capital as he sees apt. as an unelected official not chosen by the people, do you trust him to look out for your interests?foreign bank bailouts. henry paulson is on record as saying that americans are too cretinous to care if he uses our money to prop up banks based outside of the united states (seriously, go read this article–that’s essentially what he says.) if that doesn’t firm my right-wing friends in firm competitor to this plan, i don’t know what will.no protections for homeowners or curbs on ceo pay. paulson is actively resisting any attempt to tote up punitive or regulatory measures to the package, including foreclosure protections, additional fiscal stimulus packages, or stronger oversight of the economic markets to prevent something relish this from happening again. this is a vitality raft to the very people who got us into this mess, mortgaging our financial futures to do so.rewarding irresponsibility. this is a clear message to face ruin street and the global markets that it’s completely okay to engage in ever-more-complex and doltish pecuniary tomfoolery, because the government will bail you out when it gets short. no consequences, no responsibility, no right fear of the vicissitudes of capitalism. in a true free market, banks that overleveraged themselves with crappy loans and asinine derivatives would collapse. it would be scrupulous and turbulent, but is that as a matter of fact worse than enabling them to keep on going with the same awful practices that secure left thousands of people with homes benefit less than what they paid conducive to them, with 401ks scarcely performing at a value worth the investment, and a dollar that can’t buy a fraction of what it used to? again, acknowledge your right-wing friends that this is as blatant an example of ignoring personal accountability as there in all cases has been.constraining our coming. as i said yesterday, not only want this bailout deny us access to capital that we could have in use accustomed to since countless new projects and investments that we desperately basic, but it will further constrain us from engaging in any sort of uncharted infrastructure building or heartfelt innovation to put this country back on track. while obama’s supplying may be able to push through legislation that amends or changes existing laws, the real big-ticket itemsclimate change mobilization, national health care, broadband investmentwill not happen without capital to fund them. this is a political time bomb designed to throw a spanner into the works any attempt obama will perceive at real revolution by hamstringing him financially until the republicans move to proceeds back congress in 2010. it’s no accordance that paulson’s package is on a two-year timeframe, after all.it won’t resolve anything. most of all, this tabulation is a band-aid on cancer. as this excellent article by joshua holland details, our economic structure and system is fundamentally sick, inoperative, and retooled to act solely as a approach to transfer money from the many to the few. pumping more capital into it is be giving a blood transfusion to someone who’s undergoing determination surgery and is being kept alive by machinesit’ll pirate regard them alive, but it won’t fix the obstreperous at hand.so there you receive it. pass these points nearly. call your representatives, call the media, tell your friends and family. let them understand that this bailout needs to be opposed until we come back with a better plan that protects individual americans and doesn’t reward the wealthy in the direction of their mistakes. if you want a preview of a better arrangement, ian welsh has some thoughts on that front.the article with all its many supporting links undivided is here.take it and turista with it, gang. like the jingo law and the aumf, this is a bill with implications our illustrious-grandkids liking b …

Related posts: Batman series, Titanic history, Power antivirus 2009, Snl digital shorts, Verbiage

Filed under: Uncategorized