10 Reasons to Oppose the Bailout Boondoggle
- How about bailing out the people who lost their homes? And what about the rest of us, who are fast losing equity in our homes?
- Any real bailout should include bankruptcy reform—that is bankruptcy that doesn’t favor the banks—and regulation of predatory lending, right?
- $700 billion is a big chunk of change. This is what we—the taxpayers—are giving a failed, greedy, unethical banking and lending industry. Since when do “We the taxpayers” reward failure and greed?
- The bailout “purchases” bad assets, that is debt that no one else will invest in. If nobody else wants them, why should we pay $700 billion for them?
- Who is this Henry Paulson anyway that he should want to administer this much money with no oversight?
- How about instead of a bailout, why not give the Wall Street Executives all the bad assets in lieu of compensation? Let them deal with it. They’re supposed to be the financial gurus.
- Maybe we should give it some time. After all, Warren Buffet and J.P. Morgan Chase are investing, maybe this thing will work itself out.
- Even some Republicans in Congress oppose the bailout. You know something’s wrong somewhere.
- Neocons have been telling us for years that we don’t need regulation, the market will regulate itself. Well, all you neocons—Bush and Paulson included—how about taking a step back and letting the market regulate itself, okay?
- Didn’t John McCain say that the “fundamentals of the economy are sound?” He’s running for president and he ought to know. Except maybe he said that last week. Or perhaps the week before…
Note: This was written before the House voted down the bailout. Perhaps the Senate will do likewise.
Tags: bailout, Wall Street meltdown
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