Unregulated Abuse

Once again we are bailing out the very people who have used and misused the system and got us into this current financial mess. And with no oversight over the distribution of those huge funds, the American people are just asking for more trouble as we allow $700 billion dollars of taxpayer money to be used to bail out the speculators who got caught in the crisis of their own making. We are rushing into doing "something", "anything", just to do "something" to try to save the economy from falling into a full blown depression that would make 1929 look like a cake walk. We are borrowing even more money from Japan and China and allowing Europe and Asia to buy their way into our economy. At this rate, it is cheaper to "buy" America then to go to war to take it.

I have said it before and I will say it again, this economy (capitalism) is greed driven. There is a vast chasm between the "haves" and the "have nots" and that chasm is getting wider every year. The "haves" have managed to eliminate all the necessary regulation needed to keep them from using their advantage to gain even more through questionable means and leave the "have nots" even further away from any opportunity to have a decent living wage.

"Something" needs to be done all right. The CEOs of these companies that are the cause of this crisis need to be fired without a golden parachute. That would eliminate any opportunity they would have to gain personal advantage out of the $700 billion dollar bailout. I can just see them standing in line to get some of that money for their personal gain. And there definitely needs to be oversight over all that money. To put that kind of power in the hands of one man is just more idiocy.

I hope congress slows down and thinks through this decision before they commit our great grandchildren to even more debt.

Democrat Barack Obama said Tuesday the deepening American financial crisis and prospect of a massive government bailout meant he likely would have to delay expansive spending programs outlined during his campaign for the White House. In an interview with NBC television, Obama said he would have to study what happens to the United States' tax revenues before making decisions on budgeting for his promised initiatives on national health care, education, energy and other concerns.