Apparently, the Treasury Secretary any day could be given 700 billion dollars to spend as he wishes without oversight. He’s going to bail out Wall Street, I guess without making major changes to the regulatory aspects to these grand institutions that cannot afford to fail. How he spends this largesse can never be reviewed for its legality, as it says in the current draft of the Act that’s being written.
How did corporations become more important than human beings? People all over America are losing their homes, foreclosures in August of this year up 27 percent from August of 2007. The people who brought us to this ruin are now going to be bailed out or what, or some dark unknown frightening thing will happen. It was the same as the “preciptious withdrawl” from Iraq, we just don’t know what will happen when we leave, we don’t know if it will be precipitious but we can’t do it, we just can’t. And here, with the Bailout, we have to, we can’t question it or think about it or try and get the best deal possible for all of the worthless securities and mortgages and who knows what else we’re going to purchase. Hell, we bought the largest insurance company in the nation, now what? Do premiums become cheaper now?
Maybe we should privatize healthcare like McPalin, because they’ll run it into the ground and then the government will have to buy it up and then voila, we’ve got socialized health care.
We are now privatizing profits and socializing losses. Capitalism has lost, just a mere 18 years after Communism lost. Maybe there is something to that evil socialism thing…
p.s. That 2,333 dollars is the per person cost for the Bailout…enjoy! 🙂