Bailout Money, No Questions Asked

In listening to some folks on television, both Republicans and Democrats, it made me wonder what the hell has been going on in this country, and by that I mean, just in the last few months. As banks teetered, the Fed and the Bush Administration threw money at them....by the basket fulls!!! There were no "conservative" sayings like, "Pull yourself up by your bootstraps!" or "There's no free lunch!" or "The economy is fundamentally sound!" (Oops, my mistake. We did hear that last one from John McCain.) There were no questions asked. There were no demands for "a plan" to show how these institutions were going to "turn things around." There were no rules for how they used the money. When some in the media and Congress dared to ask if "executive compensation" would be limited in these basket cases...I mean banks, the answer came back from the Bush people that the government can't interfere in private businesses and their pay decisions. There was no talk of "socialism," although the government has taken a "stake" of substantial proportions in many of these companies. So the lesson seems to be, it's only socialism if middle and low income people benefit.

According to a couple of guys (a Republican and a Democrat) on a cable channel the other day (and this was BEFORE the latest bailout info), the government has now spent or made guarantees to banks in the amount of nearly seven and a half TRILLION dollars, also known as "bucks." (The amount is now over 8 TRILLION. Don't blink or it will go to 9 TRILLION!) These two guys noted that the amount now equals somewhere around $25,000 to $30,000 per American. Further, according to some folks on business shows, some banks have taken this money and paid dividends to their stockholders!!! Who owns most of the bank stocks? The wealthiest people in the country!!! So they took taxpayer money and transferred it to the wealthy!!! I dare you to go in and ask for a loan!

For years we've been told that the country can't afford health insurance for everyone. Undoubtedly millions have died or suffered in the interim for lack of proper medical care. Now, in just a few months, the government has spent or committed these vast amounts to help save banks (from themselves), and to "hopefully" get them to lend money. I really think we've been handed a bunch of horse dung. To me, all of this "holier than thou" malarkey about free markets is just that, a bunch of horse dung!!! With the government now so involved in saving these bastards, they should have just plain taken them over and started loaning out money!!! Forget this sham and hairsplitting they've been perpetrating about "free markets." Stop and think folks, they could just stop all of this throwing money at the banks, and just give each American $25,000. If that doesn't start the economy rolling, nothing will. I'd make restrictions, however. No money to people who make over like a half million!!! They got plenty from us, and they will get more when we spend our twenty-five grand. Further, freeze prices, otherwise, the damned oil companies and their wealthy investors will try to get the whole 25 grand from each of us!!! For those old enough to remember, Nixon, a Republican, implemented a price freeze. This time, anyone convicted of breaking the freeze gets tossed in jail, no exceptions!!! These are extraordinary times, and they require extraordinary measures. Enough of the give aways to the wealthy who have brought the country to the brink of ruin.

Related:

http://pontificating-randy.blogspot.com/2008/09/are-we-trapped-by-crisis.html