I say here and now that this whole bailout is bullshit its a last desperate gasp of the corrupt administration and rich backers. I have been reading some articles and there are non banking institutions who are claiming money from the government (including Rudy Guiliani’s company wanting money to help with the bailout).
Not a single middle class American will be helped by this bill. Sure everyone is going to claim it saves our middle class by saving our economic capabilities. That is bullshit, it wont save any mortgages, it will only give the rich more money. I keep hearing how the market will take care of itself, evidently it wont and that was all bullshit. Does any of the poor or middle class get health insurance, no. Does anyone get help with their mortgages or credit card debt, no. Is there more jobs, no. This is the same trickle down theory that caused this bullshit.
Our best option would be to let everything crash and then rebuild. Yes it would be hard, but maybe what came out of the ashes would not be a house of cards. None of this fixes the inherent problems of wall street or banks, its just a “get out of jail free” card.
I have a feeling I will have a lot more rants about this coming up.