CHESSNOID

I am surprised the vote failed after the media reported it was a done deal.  Thank goodness we had enough people with courage to listen to their constituents who oppose this fraud bailout.  We are already living in an “unofficial recession” and yet the 3 stooges Bernanke, Paulson, and Bush keep saying the fundamentals are good in one statement and in the next statement a financial collapse is about to happen on President Bush’s watch if we don’t approve this wall street bailout now.

When we ask where will this money go they said they would like to buy worthless assets and hope one day they will be worth something.  When we ask what the purpose of the money for it is to instill confidence.  They already have lost our confidence by asking for that type of money.  Didn’t the government just use taxpayer money to bailout Bear Stearns, Fannie Mae, Freddie Mac, and AIG in the last 6 months.  How much did that cost and why didn’t we let them fail.  They made decisions in regards to bad loans and need to suffer the consequences of those bad decisions.  Many argue that we will be affected whether we give these private institutions money or not.  I think we already see those effects right now in the form of higher gas prices, food prices, job losses, and skyrocketing foreclosures. On top of this we have both banks and businesses of all sizes closing down.  What exactly is this economic Apocalypse going to include that we are not already experiencing?

If we are going to spend that type of taxpayer money, then I think we should funnel it to government programs that will be reinvested back into the economy. $700 Billion can help with shoring up Social Security, provide universal health care, or even invest in our infrastructure to make us less dependent on foreign oil.  Why would we want to buy junk paper of mortgages that have foreclosed on properties whose values have plummeted?

I think this bill will eventually pass, but at least Congress is listening.  Maybe even Bush, Bernanke, and Paulson may have heard the American people. We are tired of all their lies. We are tired of their failed solutions.  We are tired of them running our country and economy into the ground. We are tired of being betrayed.