Are Taxpayers Actually Expecting a Profit on the Bailout?
A hurricane of "happy talk" has swept through the Mainstream Media as everyone from President Bush to Bill Gross is talking up the expectation that not only will the bailout eventually cost taxpayers nothing--it will turn a big profit! Will greed drive the American to accept this proposal?
Read Oftwominds.com on the proposed bailout which is premised on this fantasy is a sham.
Yes, things are going to get epically bad (with or without this bailout), but this bill doesn't ultimately relieve any of the underlying causes of the financial meltdown. And yes, this proposal is not the only way to recapitalize our troubled financials.
Also, see Clusterstock.com on Analyzing The Bailout. The "modifications" to Paulson's bill are only cosmetic. Yes, most of our representatives are clueless. Is it any surprise that Congresspeople elected for their ability to clear brush or deliver sound bites with a photogenic smile are about to cast one of the most important votes of their careers without a clue about what they're voting for? Someone said that "The best argument against democracy is a five minute conversation with the average voter". The American corollary to that adds a 5 minute conversation with the average elected representative...
So make it easy for them: Call your Representative and Senators Dole and Burr and tell them NOT THIS BAILOUT PLAN.
9/30 1pm update - Congress "Debate Bailout" - Team "We Hafta" vs. Team "Nuh-uh." I fully think that Team We Hafta will win. What a spectacle. This will be disasterous.
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