The Bishop and the Butterfly: Murder, Politics, and the End of the Jazz Age
    oleeb's picture

    Trillion Dollar Bailout? For Homeowners: YES For Rich Bankers? HELL NO!

    If the people who got hoodwinked and snookered into mortgages they couldn't pay, could just pay them, then we would have avoided this whole financial "crisis" righ?  Right.

    That being the case, it only stands to reason that the best means of staunching the bleeding and having the financial system recover is by offering mortgages to all Americans that they can, in fact, payoff.  Not only does this benefit the average American who, in the end, will have to pay for any "rescue" that comes out of DC, but it would be much cheaper than trying to cover all the losses that the corrupt, irresponsible con-men of Wall Street have created.

    I say, bailout the homeowners of America but make those rich bastards take responsibility for their fraud and failure.  If the Democrats allow any approach that does not put the homewowner/taxpayer first then it will mean that the people who will pay the bills in the end anyway will get screwed coming and going. 

    This current bailout proposal is simply socialism for the rich.  It maintains profits for the elite who don't deserve them and bleeds the little guy to do it.  This is no only bad policy, it is immoral.  It is thievery of the highest order.  Democrats have been cowed into a long string of bad laws under the Bush tyranny of the past 8 years like the Iraq War Authorization, the Patriot Act, the FISA Bill and so on.  All of these bad bills were presented as laws that needed enactment immediately and that we could not afford to even review them.  Many of us knew each time these bad deals came down the pike exactly what would happen.  In each case those of us who recognized these pigs in a poke were right with a vengeance.  Sadly, the cowardly Democrats of Washington DC seem to have learned absolutely nothing from these experiences and so are now eagerly lining up, not only to support bad legislation, but to screw their own constituents to a degree never deamed of until now.

    It is time to let the rich pay the price of capitalism (for once) and to let those who will be forced to rescue the system in any event at least get an affordable mortgage out of the deal.  If there is no direct benefit to the average people of this country (not just a small slice but a majority of all Americans) then the Democrats in Congress should simply refuse to pass any sort of bailout legislation at all.  It's that simple.