Monday, October 06, 2008

Saving the Many at the Cost of the Few

The Vulcan Philosopher Spock once stated “Logic clearly dictates that the needs of the many outweigh the needs of the few.”


The White House and the Congress have told us that the 700 billion dollar bailout will help the majority of Americans. They say that the bailout was the logical move to help cure the Nations financial woes.

But who are the many (the majority) and who are the few?

The many made imprudent investments, the few didn’t. The many were looking to make a quick and/or higher level of profit for their investment. The few took a different direction and invested in low yield, but safe, funds and money market accounts that were yielding less than 2%. The few were not happy with their return on investment but thought that being cautious was the proper course of action given the current economy.

The few must now pay for the avarice of the many.

Congressman Dennis Kucinich of Ohio said "This bill does nothing for the Addie Polks of the world." "This bill fails to address the fact that millions of homeowners are facing foreclosure, are facing the loss of their home. This bill will take care of Wall Street, and the market may go up for a few days, but democracy is going downhill."

Pennsylvania Congressman Todd Platts stated “this legislation will put American taxpayers on the hook for the reckless actions of Wall Street and irresponsible lenders with little certainty of truly solving the underlying causes of our nation’s economic challenges.”

I applaud and tip my hat to all of the Congressmen who had the intestinal fortitude to vote nay on the Emergency Economic Stabilization Act of 2008.

The Beach Bum

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