Reasons why the the bailout doesn't work, shouldn't work, and alternatives to this proposed plan.
Look at any newspaper in the world right now, and you will see some headline or story related to the despair that the US economy faces at the moment, and the bailout plan that is under debate in Congress. It’s natural that this type of folly would saunter into the world financial arena, as it seems every major financial analyst around the globe believes it to be the complete embodiment of idiocy and hypocrisy that it truly is.
No matter what type of elaborate and articulate language is applied to the proposed bail out plan of multi million dollar conglomerate businesses, the bottom line remains that this is nothing more than US political business as usual. The executives and highly paid corporate employees of these conglomerates have suddenly felt the same pinch in their check book as the American public has been subjected to for the past three years. However, instead of taking the accountability that they forced on their customers and clients, they went running to mommy and daddy in congress to beg on bended knee for a stay of execution, and apparently, this stay will be granted.
Nothing should incite Americans fury more than those same individuals, who were raised and coddled by trust funds and hedge accounts. Who have not earned or accumulated by their own intelligence or ingenuity, the ability and ease that they are to be protected by the same government that swore an oath to protect it’s people—all of it’s people. Apparently, governmental protection extends only to those whose checkbooks are in direct relation to large campaign and lobbyist donations.
The fact remains that those high paid executives now calling for a “do-over” were the first to call for foreclosures on American homes, and cause tears in the eyes of American children. These same individuals who now can’t make a Ferrari payment are the first in a long line who will be protected by the burst of the economic bubble that was of their own creation.
No matter how you dissect the financial situation of the housing market, which is the main factor in the current downturn of US economics at the moment, the simple truth is that due to lender’s negligence in adequately preparing their customers for the repercussions of adjustable rate mortgages, the entire situation rests squarely on their shoulders. Yet, we, as the American public are supposed to buy into bailing these same individuals that sold us faulty information, and to give pardon to these individuals that shrugged their shoulders when we could not make ends meet each month, who shoved bill collectors down our throats, and who made us feel like we were the lowest form of life because we could not pay our bills. We, the American people are supposed to rally around these companies and somehow believe that bailing them out of their own self imposed financial duress will save the American economy?
Well, this American is not buying it, and doesn’t think that you should either. The fall of these gigantic corporations is something that needs to happen, and happen quickly, to be ripped of like a band-aid. There needs to be a financial revolution in the US that is centered around banking and the credit industry, and it needs to start now. Pointy-headed accountants have shown us no flexibility or pliability in the formation of rules to current economic conditions. This makes no sense. Our own government was founded on the principals of amendments, making laws and statutes changeable based upon the current needs of the country. The financial industry has yet to catch up to this ideal, and is still living in the dark ages. The dark ages are over, and continuing to empower those that embrace its principals is to allow a continued downward spiral in our country’s economy.
Where these companies and conglomerates will fall, and where it will hurt the economy for a time being, rest assured that time it will impact the economy and the stock market will be much shorter in their downfall than having a rise of new companies, and financial intuitions take their place. Allowing this oppression to occur in our government will allow this oppression to continue in our households, across our kitchen tables, and in our day-to-day lives. Allowing the principals and old schools of thought from those indoctrinated in old school financial thought will ensure that we cannot make needed doctor’s appointments because we cannot afford the copayment, it will ensure a culture of foreclosure and never ending seas of debt, and it will ensure that the American people will be buried in governmental spending for our generation, and generations far beyond.
A rise from the ashes with a new crop of innovated and ingenuitive thinkers are the only way to revitalize the American economy and put the dollar on top in the world market. To replace the old banks and companies with new firms, to re-establish credit rules and reporting, to reinvent the capitalist republican society we have, in order to conform to the new economy. The stubbornness of clinging to ideals of times past will only cripple us as the world economy continues to take forward strides and as we fall further and further into an insurmountable national debt.
The cowardice of our current administration is conveyed in the inability to make this bail out issue a matter of public vote. This is an issue we cannot ignore, we cannot turn our backs on, and one of the utmost importance to protest. This issue should come far before the impending Presidential race and election, and we should not allow ourselves to be blinded by the publicity and press that try to magically draw our attention elsewhere.
This is the issue that we, as a generation, need to make our mark upon and stand up to fight for. This is the issue that will be the one historians write about for centuries to come, and this is the issue that has the potential to make or break our country as a whole. By standing together, we cannot possibly stand alone.
