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Response to the Bailout
- By Nancy F. Furner
- Published 10/9/2008
- Politics, News & Issues
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Nancy F. Furner
Author, designer, photographer (amateur), I represent lots of middles: mid-continent resident, middle-income, middle-aged ... and try to do so creatively. Currently working on re-designing my life as I ride the cusp of the new millenium. To read more work by Nancy F. Furner, visit www.quillerworks.net
View all articles by Nancy F. FurnerI was willing to ride out the aftermath of Congress’ bailout of the Wall Street investment banks in silence. I was willing to sit still and take it until I heard that AIG was getting another handout after they spent nearly half a million of their first 85-billion-dollar “care package” on a celebratory corporate retreat at a spa. That’s when I accepted the bitter truth: everyone involved in this mess is hopelessly corrupt. The failure to demand reform in exchange for these massive infusions of cash only encourages fraud and waste. Any good parent can tell you that. Our Senators and Congressmen can no longer stop themselves from pandering to the highest bidder. They’ve acquiesced to ethically-questionable demands so many times that their puppet-masters will never take “no” for an answer again.
If you are angry and frustrated at the way the U.S. government has handled/is handling the current economic crisis that is draining your 401(k) account/pension fund, if repeated efforts to tell them what you want have gone unheeded, there is one more course of action left to you: fire them. Get registered to vote now if you aren’t already, go to the polls on November 4th, and vote for anyone who is not an incumbent. Throw the bums out!
Let me make one thing clear: uttering the words “I take full responsibility” doesn’t mean anything unless the person who utters them resigns his job and disappears into obscurity, never again to be trusted to handle money that doesn’t belong to him. The phrase would mean even more if the utterer had to liquidate all his personal assets in order to repay the taxpayers even a small portion of what we are having to cough up in order to prevent a worldwide economic depression. I don’t want to hear any more sob stories about how much it costs a Wall Street investment banker to live on the same island as his office. I don’t care. If he hasn’t been socking away some of his gargantuan salary into a tidy nest egg all this time, he deserves to be homeless and starving and warming his hands at a burn barrel.
After Enron tanked, I said, “I won’t be happy until I see Ken Lay in an orange jumpsuit.” I never got to see that. Shortly before he was to go to prison and start serving his sentence, Lay died of a heart attack. I think I know what really happened. I think Ken Lay sold his soul to the Devil in return for Enron’s meteoric success. That success was brief, however, as are all the Devil’s boons. He’s the one creditor you can’t stiff, and Lay knows it now. His rise and fall should have served as a warning to other would-be tycoons, but obviously, they didn’t get it.
I’m not just blaming executives and management at investment banks and mortgage lenders. I’m blaming Congress. I’m blaming the American public who believed that infinite riches could be based upon thin air. We are all to blame and we are all going to pay for our arrogance and apathy, but I want some of us to pay more than others—each according to his means, in other words.
If you don’t know the names of your elected representatives, go to USA.gov and look them up. Make a list. Take the list to your polling place on Election Day. Every name on your list that appears on the ballot is an incumbent, hoping that you will re-elect him to his undeserved office. Vote for whoever is running against him. Whatever came out of that incumbent’s mouth during the campaign should be ignored. He’s lying. No matter what he said he is going to do for you, don’t believe him. If he does manage to keep his campaign promises, trust that in order to get any such legislation passed by his pandering toady fellow legislators, it will be wrapped in thick wads of pork that will enrich people you wouldn’t like. (Don’t feel confident because I am using only masculine pronouns in order to avoid cluttering my prose, Ms. Pelosi. This rant applies to you, too.)
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3 Responses to "Response to the Bailout" 
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said this on 10 Oct 2008 12:19:57 PM EDT
Excellent, BUT: be sure to check voting records. Some in congress had the wisdom to vote against this treasonous bailout. Make sure they are rewarded for their bravery, or the net result may not be the reform we want to see!
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said this on 12 Oct 2008 1:07:04 AM EDT
It is really sad. They stopped the 700billion dollar bill, so they could add another 11billion dollars in pork after hearing President Bush would not veto it and then passed it. The bailout is completely lame.
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said this on 26 Oct 2008 9:04:27 PM EDT
Couldn't agree more! well...as time goes by, I find that I am agreeing more by becoming more enraged with each week that goes by. Let's see:
First we have the AIG debacle that confirms my (all of our) worst fears - in many cases it goes well beyond mere greed and into outright theft. Next, recalling the extreme urgency the financial community placed on the passage of the $700 billion bill, I figured that 10 days later we should be able to find out, at minimum, how much had been allocated and to whom. HA! Wrong. It will be six weeks before the Feds will be set up and ready to process actual aid disbursements. Right now they are busy hiring firms to do the paperwork necessary to allocate - and carry out required oversight records. Why do I have a sudden conviction that Halliburton is ramping up for another contract? Yes, the bookkeeping is obviously necessary. and sure it takes time to set up a "whole new department" as Treasury spokesperson(s) referred to it. And yeah, I am most certainly a tad cynical by this time. But honestly - what happened to the dire predictions of total economic collapse if that bailout - oops, rescue plan - didn't pass within 48 hours? But never mind. Just one week later we learn that over a third of the $700b will be used by the Administration to purchase large blocks of the failed home mortgages directly (as opposed to propping up the lending companies and letting them fix the messes they made). This new plan was being...well - planned - at the "highest levels" which tells me that more bids and contract placing will be going on pretty soon. Couldn't we avoid that expense by ... oh well. I'm sure you're already there ahead of me anyway. Too bad we can't turn our speedy assessment of these weighty, complex matters into a contract of our very own. Hm... |


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