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The more I look at it the $700B is a Financial Coup!
Make no mistake the implications regarding a total failure of the Capital Markets in NYC and Worldwide would be a disaster, but the END DOES NOT JUSTIFY THE MEANS! Meaning allowing a $700B bail out on top of what appears to be $600B bail out or $1, 600, 000, 000, 000, 000, 000, 000.00 in total has to have STRINGS ATTACHED....many strings in fact strings and poison pills and even retribution otherwise it is nothing but a coup de' etat by financial means. This will handicap, even forestall any Healthcare Reform, Tax Reform for the sake of transferring wealth to the rich.
It is no different that how the NAZI's and Italian Fascists took over Germany and Europe in the 1930's. It binds without strings, accountablility and controls the BIG BANKS, BIG CORPORATIONS with the GOVERNMENT AND MILITARY the very definition of FASCISM. My take is this, if a bail is necessary than fine.
But freeze all assets of the individuals who were in charge of those banks and corporations for a follow up and detailed investigation. If they broke regulations, laws or were negligent to shareholders, investors or the government they lose it all!
Comments (1)
I have already begun writing congressmen about my concerns. I am very concerned that this entire situation will be abused by the powerful and wealthy. We have no reason to trust this aministration or Paulson. There must be oversight and there must be some kind of balance. It seems as foreclosures are at the bottom of this more must be done to diminish the number of foreclosures from the homeowner standpoint. I am concerned that congress will give away more of its power to the executive or that untoward things will come of this situation as the administration is bound to take advantage in any way it can. I am concerned that all of this has been the result of deliberate manipulations... I am also concerned that political agendas will be favored in the way things are handled. I understand we have to do something but we must do something truly useful that does not create further damage to 'anyone'.
September 21, 2008 5:18 PM | Reply | Permalink
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