Bailout, A Viable Solution?
The country is going through a financial crisis right now. The crisis is multi-layered, with different aspects affecting all layers of society.
All of a sudden, a few large, ill-run financial institutions, which benefited from the ill-conceived Republican deregulation of the financial industry, started to fail. The Republican strategy? Give $700 Billion to those troubled institutions. This is with no oversight, with no plan for repayment by those institutions, and it has to be rammed and rubber stamped through Congress TODAY. The problem is, just throwing money at the problem isn’t going to address the root causes of the financial issues this country is now facing.
The funny thing is, the Republicans are all against social welfare when it comes to the poor and huddled masses. When a few large corporations get in trouble, they are all for social welfare. Does that tell you where their priorities are, and who they actually support?
So we are looking at $2000 per person to bail out a few badly-run corporations. Can someone tell me where they are getting their $2000 to pay for this bailout? And can someone please explain how this actually makes sense in any way?
