Friday, September 26, 2008

Do not give Wall Street $700 billion

The American people do not want to give $700,000,000,000 to Wall Street.

They just do not want to do it.

Period. End of story.

Every single legitimate poll taken on this issue has proven that the American people do not want to do this.

President Bush wants to give Wall Street $700 billion with the Treasury department’s oversight.

Americans-Republicans, Democrats and Independents do not like this idea.

Just yesterday, the Democratic leadership with a couple of weakling Republicans in the Senate triumphantly declared a deal had been reached.

And deal that, oh by the way, gives $700,000,000,000 to Wall Street. (This is precisely what the American people- Republicans, Democrats and Independents do not want)

Sure, the Democrats deal does give more power to some Washington bureaucrats with the idea of oversight.

Still, the Democrats deal does nothing more than simple give $700,000,000,000 to Wall Street. But, hey don’t worry about it, the Dems plan on capping executives pay.

This is the Dems plan that gives $700,000,000,000:

The principles the Democrats said had been agreed upon call for Congress to make
$250 billion available immediately with $100 billion available, if needed,
without requiring additional congressional approval, said two senior Democratic
aides familiar with the negotiations. The second half of $350 billion would then
become available by a special approval of Congress.
On executive
compensation, the draft would require limits on compensation for executives of
any company participating in the bailout. These caps would apply for as long as
the company is in the program. This would include some language to limit excess
"golden parachutes."
Treasury would also get an equity stake in the companies
being helped by the bailout, though what type remains to be worked out.

Basically, the Democrats are putting lipstick on President Bush’s plan.

Even the unions were out protesting giving $700,000,000,000 to Wall Street.

Now the media, along with some screeching Democrats are lambasting John McCain and the House Republicans because their “deal” fell though.

Since the American people do not want this deal in the first place, I say, let John McCain and the House Republicans take the hit from the media and the goofy Democrats that continue to insist of giving money to Wall Street.

The American people are smarter than the media and the Democrats want to give them credit for.

After all, the American people- Democrats, Republicans and Independents are standing with John McCain and the House Republicans. Like the American people, these Republican leaders do not want to just give $700,000,000,000 to the Wall Street fat cats.

Now, a loan?????? This is a different story altogether. Currently, that is what House Republicans are looking for.

The American people do support a loan, a rescue plan- not a bailout plan.

What does Barack Obama want????

He wants his debate and he wants it now! To hell with the country!

Let’s see- a plan to rescue the entire the economy from the greatest disaster since the Great depression or a political debate.

Which is more important?

Per Obama- it is the debate.

The American people have been ignored in this process until yesterday.

Isn’t it pathetic that the American people have to stand against the President of the United States and the Democrats that are supporting his bailout plan (with a couple of their own revisions)?

Somewhere at the end of this, Wall Street will get the money they need to survive and not send us into another Great Depression.

Will it be a loan? Will it be a payout?

My guess is a combo of both.

No comments: