bailout

I don’t know whether to write about my outrage about the Wall Street bailout – 700 billion dollars, total power to the administration’s guy (Secretary of the Treasury, Hank), trashing of the constitution, and now they’re worried about giving total power to someone. It was apparently fine to trash the constitution and give total power to someone back in 2001. And now we have socialized business: seven hundred billion dollars to bail out businesses that have been irresponsible. What if someone had suggested setting aside seven hundred billion dollars for education…or health care? What if? Imagine the screeching on Wall Street about socialized medicine. Just imagine. And now Hank wants congress to give him 700 billion dollars with no oversight. None. Just to do with whatever he pleases. Yeah. When financial institutions are in trouble congress answers. When the financial sector has made bad decision after bad decision, brought upon itself a disaster that could dwarf the crash of 1929, and then paid off the guys who made the bad decisions with huge severance packages…when republicans cry foul when the slightest regulation is even waved in the wind. When all this converges in a perfect storm, congress comes to the rescue. It’s true what they say: if you owe ten thousand dollars it’s your problem, but if you owe a hundred million dollars it’s someone else’s problem. So I could either write about that...or the Death Penalty Commission hearings I just came from. I guess I'll do the hearings tomorrow.