Congress Caves to Wall Street

Well, we knew it would pass eventually. Contrary to what Congress is saying, it is indeed a bailout for Wall Street. $700 billion to buy up bad debt. Sure, it’s a benefit to Wall Street, bu there are two sides to every story.

This looks like a disturbing plank of the communist manifesto, with the consolidation of asset to a central government. Maybe I’m just paranoid. It wouldn’t have been nearly as bad if there were leaders in Washington who didn’t either have their hand in somebody’s till, or were at least, partly responsible for this mess. No party is unscathed, but the Democrats were defending the arsonist while Rome burned. They claimed that Fannie Mae and Freddie Mac were running “just fine”, and chastised those who attempted some government oversight regulations.

Democrat supported groups like ACORN also had a hand in this mess, using the Community Redevelopment Act to force lenders to hand out loans to those who couldn’t afford to actually have one. Now, these same people are crying that the government needs to help the little guy, the ones that can’t pay that mortgage they never should have had.

Hey, I feel bad for those who are losing their homes-for various reasons, but-I said it before and I’ll say it again: Who would sign a contract for hundreds of thousands of dollars, and *not* have a lawyer look at it?

On a side note, I see Wells Fargo and Citigroup are brawling over who gets to buy Wachovia. All that without government help. Hmmm.

The World Of rjjrdq

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4 Responses to Congress Caves to Wall Street

  1. grisly77 says:

    And have you seen the size of PORK that comes with that bill? My GAWD. Tax cuts for wool research, tax cuts for children’s wooden arrows. And the beautiful CARBON TAX they slipped in.

    Yet the MSM hasn’t mentioned the carbon tax. That’s surprising.

  2. rjjrdq says:

    They know most people won’t go flipping through 400+ pages to see what’s in there. If more Americans paid attention, these clowns in Washington would have no choice but to cater to us. Their leash is only as long as America lets it out.

  3. Daniel says:

    But is there a leash at all, really? Seems like I have heard many stories about senators receiving letters and phone calls by the overwhelming majority in opposition to the bill, only to turn around and do the exact opposite because they think they understand better than the public does. Who are they representing?

    Thanks for the link up, by the way. After calming down and reflecting upon the situation for a bit, I’ve realized that America is still way, way far away from true communism; however, the point DOES still stand that this bailout package reflects more upon communistic ideals than it does free market ideals. And that, my friend, is a dangerous precedent.

  4. rjjrdq says:

    As far as the communist idea, I think of the old adage, “How do you eat an elephant? One bite at a time,”

    Chomp.

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