Little Guy Rant #3: Beyond Outrageous!
By: J. Kerr
Now let me get this straight: we little guys are now being asked to support a $700 BILLION dollar bailout to save the economy that the imbeciles on Wall Street and in Washington mismanaged so completely that if I don’t support it, the economy will collapse and it will somehow be our fault?
Well excuse my unpatriotic little butt! Tell me, why should I support such a bailout? Everyone with an ounce of common sense knows it will just be good money after bad…. I don’t like such things being rammed down my throat and I’m betting the vast majority of Joe Public doesn’t either.
(Just how did they come up with that $700 billion figure anyway? Or do I really want to know?)
Here are some alternate suggestions that I believe would be more palatable to the general public:
1. Make all those slimy CEOs who got (and are apparently going to continue to be able to get) all those Platinum Parachutes (I mean, really – $450,000,000 as an exit bonus for 6 months’ worth of essentially playing golf and making terrible decisions to the point your company is bankrupt? That is unspeakable…) – anyway, how about making those guys PAY IT ALL BACK as the first installment on that $700 billion needed for a bailout? (and while we’re at it, let’s prosecute them for being so evil….we ARE still after the Evil-Doers, aren’t we? Seems they’re not all in Afghanistan or Iran…).
2. Likewise, make it retroactive to all similar ‘golden parachutes’ already in place for any and all financial institutions. These guys need to rein in their expectations too – and maybe start earning their fat fees. (that part of the $700 billion plan really made me choke – these guys still get to keep their existing golden parachutes? Why?)
3. Let those institutions that were stupid and reckless and greedy enough to make all those ill-thought out mortgage loans FAIL. They don’t deserve to be in business anyway.
4. Let those poor homeowners who were led astray by those Evil Mortgage Lenders lose their houses – on what planet is it a rule that ‘everyone deserves a house’? If you were greedy enough to bet (or stupid enough to expect) that your house would always go up in value, you don’t deserve to have it. Take your medicine and learn from your mistake. I’m not even a little bit interested in bailing you out.
5. Let the stock market crash. It’s going to anyway – it already is, in painful slow motion. Keep your fingers out of it, Mr. Government– you’re doing far more harm than good, despite what you think.
6. And while we’re at it, let’s stop illegal short selling, immediately and forever – none of this ‘stop it for one month’ baloney. It’s hurting everyone except the greedy people who are able to game the market.
This is indeed, beyond outrageous! Why all the people in every city and town in this country are not out marching in the street protesting this insanity….are we truly that apathetic?
I hope everyone who reads this will at least consider writing in Ron Paul as their choice for President. He is the only one who has always deeply understood these financial issues and risks, and has a well thought out plan to address things. Although why he or anyone else would want the job at this point is beyond me.