This Bailout make me so MAD!

[La Lioness Priyanka]

Economic policies typically don't make people mad. They are hard to understand and certainly not as emotionally charged as social policy (abortion vs tax breaks, gay marriage vs market oversight etc) but this bailout makes me angry and I hope it makes ordinary americans who are normally uninterested in economic policy MAD as well.

The fact that this disaster occurred because we let wall street do whatever it wanted but now we have to bail them out, is ridiculous. I understand that we have to bail them out. It's still ridiculous. The fact that this government wants to bail them out without any plans of future oversight, is just insane.

The middle class is essentially supporting the rich.

The idea that a few months ago we couldn't afford health care for children but today we can afford a bailout of the wealthy is nauseating.

Meanwhile in new york city, because of this financial disaster we are cutting our budgets for education.

This sheer callousness toward those of us who are not millionaires is just unacceptable.

The ineptitude that caused this to occur, makes me want to punch someone.

[grannie4peace]

1. i'm calling all the senators on the banking committee

[bdamomma]

23. I just fired off all faxes to the banking committee

along with Senator Reid, Steny Hoyer and Pelosi fax number is busy.

[La Lioness Priyanka]

25. i am emailing them all

http://banking.senate.gov/public/index.cfm?FuseAction=Contact.Form

[msongs]

mybe the whole thing is a manufactured stunt for the mccain campaign's benefit? hmmm nt

[screembloodymurder]

4. It's not manufactured, but it is being exploited.

Of that, there is no doubt.

[still_one]

15. No question about it /nt

[bdamomma]

2. they need to hear from us.

I will keep calling my Senators and Reps. I will also call Dennis Kucinich, he is our advocate.

[La Lioness Priyanka]

22. i emailed my senators, clinton and schumer.

[magellan]

3. This is what pisses me off the most

"The idea that a few months ago we couldn't afford health care for children but today we can afford a bailout of the wealthy is nauseating."

Yes, it's OUTRAGEOUS.

Only please remember, this isn't the first bailout. I haven't kept track of the amounts, but I'm pretty sure the Fed has already injected over 100 billion (or more) into flagging financial institutions. The $700+ bailout being discussed now is only the latest and greatest.

[Redbear]

7. The total dollar figure on bailouts BEFORE this one is almost one trillion.

http://www.cnbc.com/id/26751385/site/14081545

So, with this one we will be at a minimum of 1.6 trillion


It is my understanding that they explained the magnitude of this to President Bush by emphasizing that a trillion is even more than a brazillion.

And yes, I am mad too.

[magellan]

9. OMG, I had no idea it was that much!!

:mad: :mad:

[bdamomma]

5. Please call the Senate Banking Committee

we must do this: they are making fools out of us.

http://banking.senate.gov/public/index.cfm?FuseAction=Information.Membership

what will be next raping the Social Security system. They want to privatize everything.

[Naturalist]

6. I starrted calling days ago

and they are going to pass it anyway knowing full well that 90% of the people don't want this. Calling my ass, we need to fire these jokers right now and put new ones in that aren't bought out.

[Romulox]

8. If it makes you feel any better, they were NEVER planning on giving us UHC.

When the Iraq War began, someone was running a "debt clock" that showed all the things we could purchase with the money devoted to the Iraq War: free education, universal health care, shore up Social Security, etc.

The problem with all of this is that we didn't have any of that before we devoted all that money to Iraq. In other words, they were never planning to allow us to have UCH, regardless of how much money was devoted to Iraq. Same thing here. We weren't going to get UHC regardless of whether or not they bail out Wall Street.

[La Lioness Priyanka]

10. the idea that the middle class is supporting the rich is what really makes me sick

and the fact that we can NEVER support the poor but can ALWAYS support the wealthy

its sickening

its also morally bankrupt

[Romulox]

12. Capitalism is, by definition, a Pyramid scheme; a few at the top exploit a broad base.

This isn't an aberration; this is the way the system is designed to work.

[jonnyblitz]

11. "Economic policies typically don't make people mad!"

I guess you never hung out with a bunch of marxists. :P

I am curious to see how this plays out. It's interesting to hear all the Senators show all the proper concern at the hearings but does it matter if they pass this bailout as is anyway? can we expect the DEMS to do the right thing now and/or after? (rhetorical questions, btw). Sorry but I don't picture it. Based on past experiences I don't trust the DEMS to do the right thing when it comes to economics. Both parties are beholden to Wall Street and to deny this is to be dishonest.

[La Lioness Priyanka]

13. i know it bothers leftists and marxists but it doesnt bother most people

however this i think is big enough, simple enough and aggravating enought to annoy a lot more people

[bdamomma]

14. just a question

I have been trying to call Senator's Dodd's office all week, his Washington office is anyone getting through to him, I called Schumers office yesterday.

[La Lioness Priyanka]

17. i emailed him

Dear Senator Schumer,

This bailout is infuriating. I am sure I am not the only New Yorker who feels this way. You cannot let Bush and Paulson win on this.

The fact that this disaster occurred because we let wall street do whatever it wanted but now we have to bail them out, is ridiculous. I understand that we have to bail them out. It's still ridiculous. The fact that this government wants to bail them out without any plans of future oversight, is just insane.

The middle class is essentially supporting the rich.

The idea that a few months ago we couldn't afford health care for children but today we can afford a bailout of the wealthy is nauseating.

Meanwhile in new york city, because of this financial disaster we are cutting our budgets for education.

This sheer callousness toward those of us who are not millionaires is just unacceptable.

The ineptitude that caused this to occur cannot be encouraged.

I urge you as my senator to not vote on this bailout till you have a real plan in place. One that doesn't involve me supporting a millionaire

Sincerely,

Priyanka LASTNAME

[RaleighNCDUer]

16. One thing I've not heard anyone ask --

what if we hand these looters $700billion of our tax dollars and the economy CONTINUES to collapse?

This is, essentially, just paper money. After the bailout we STILL have a failing infrastructure, we STILL have 80% of our industry shipped overseas, we STILL have low-paying service jobs replacing high paying industrial jobs as the foundation of the economy, we STILL have unaffordable healthcare, we STILL have a quarter of the GDP being sucked up by the military-industrial complex which provides jobs but not goods, we STILL are fighting two expensive wars overseas (not to mention the unmentionable secret wars in Colombia and Indonesia and elsewhere)--

The FUNDAMENTALS of our economy are NOT sound.

I have no expectation that this can possibly change anything in the long run, except to take 3/4 trillion out of the hands of the middle class and give it to the nation's wealthiest men. How much of that money with cling to their sticky fingers, and how much will trickle down to the homeowners who are being forced into defaulting on their mortgages? If there are a million people about to be foreclosed because of ballooning ARMs that they were conned into getting, sitting on properties that are worth 2/5 of their mortgage valuation, is this bailout going to stop THEM from going under? And if they go under, aren't these bankers STILL going to be stuck with these properties?

[La Lioness Priyanka]

18. thats my point. its all insane and ridiculous

[closeupready]

19. They'll just take even more. Comical really. Like that expression,

"the beatings will continue until morale improves."

[Gin]

20. we have not hit bottom...to bailout now is nothing more than a reward for

the ones who caused the mess.

[closeupready]

21. Nobody seems to care about the "moral hazard", as they keep writing about.

Certainly not the messmakers, and not Congress either. You know, they are all in this together, taking money from those of us who are not, picking our pockets.

[jonnyblitz]

24. exactly. great post.

sadly the DEMS will help pass this bailout and we, the people, have no recourse but to sit and watch this trainwreck continue..