Bailout: American taxpayers on the hook … again
It will come as no surprise to anyone that George Bush’s speech last night angered me. How dare he step in at the eleventh hour in this financial crisis and pull scare tactics on the American public! We didn’t create this problem. We have no vote on the bailout plan. We’ve been scared for months, watching the housing market tank and banks going under. What we needed from our president was reassurance that Congress is working on a plan that will avert disaster.
I’m mad as hell at Wall Street, at the president, at the Republicans, at the people who were supposed to be overseeing the system to make sure this sort of thing didn’t happen. I’m mad at the profit-taking, money-grubbing institutions who gave loans to people who clearly couldn’t afford them. Where were the regulations? Where was the oversight?
And now this bailout plan is being hatched in Congress. A plan that will cost every man, woman, and child approximately $2300, or about $6000 per actual taxpayer! I understand the urgency for doing something quickly; it would be far worse if Washington let everything collapse. But I’m always very suspicious when someone says, “quick, don’t just stand there. Do something!” The “something” that results from a knee-jerk reaction is often not very good.
The economy is extremely complex, and I’ve never understood it very well. Apparently the guys in charge didn’t understand it very well either or we wouldn’t have gotten into this mess. But now we’re supposed to believe they understand it well enough to fix the problem in a week’s time? I have a terrible sinking feeling about this whole situation and I can’t do a damn thing but sit here and watch the train wreck.
How dare George Bush address me last night and tell me I should be scared! I’ve been absolutely paralyzed for a year or more! He should have been addressing Congress and Wall Street, and he should have been doing it long before the subprime crisis ever began.
Where the hell is my bailout!?