Friday, October 03, 2008

It Makes Me Want To Puke

Today the House passed the 700 Billion Dollar Bailout bill; I am appalled but not surprised. Several pork barrel items were added to the bill; again I am appalled but not surprised. This is normal politics, politics at its worst.

My first question is: how does this bill help the Average Joe? You know - the person who is out there busting his bottom to try to make ends meet in this bad economy. My second question is; will the individuals that caused this problem get their just desserts?

Who pays for this bailout and who benefits?

My family and friends will seemingly not benefit. They will end up on the paying end of the stick. If I took an unscientific poll of the 100 or so people that are in my email address book, I would imagine the majority, if not all, of them will not be benefiting from the bailout. I guess it just matters on whom you have in your address book.

How will this bill help the countless people that are currently going into mortgage foreclosure? The bill helps the banks that hold their mortgages; not them. They got screwed, as usual, not helped. Do you, for one moment, think that any of these people need FDIC coverage over $100,000?

The underlying note was that we must help the Banking Industry to keep our Nation financially stable. To avoid another Great Depression! To avoid a Stock Market crash!

I have no pension and I never wisely invested in a 401K plan. The Stock Market is just legalized gambling. Those who invest should have understood the risks involved. Why should I (or any of us) save their asse(t)s?

Will any of the individuals that benefited, at the cost of a possible financial collapse of the Banks and Stock Market, pay? Extremely doubtful! The system doesn’t work that way! They’ll get off smelling like a Rose, and we (the common man, the middle class, the working person and the Average Joe) will pay for their foibles. That’s how the system works.

Yet, we are voters and we are the people that are responsible for putting individuals in office that do not care about our well being. Think about it and then weep!

Personally, I will not vote for any member of Congress that voted aye for the bailout bill.

The Beach Bum

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6 Comments:

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