Henry Paulson and Ben Bernanke want the largest financial bailout in our nation's history with no oversight and no accountability. I have watched the Banking Committee hearings on CSpan today with growing fear and agitation. There were moments of reason and sanity, mainly from Dodd, Hagel, Schumer and Tester. Newcomer John Tester was a star in insisting that there be a benefit to the homeowner whose house has lost it's value through now fault of his own, the farmer, the main street small business owner, the small town rural citizens who have played by the rules and worked hard all their lives--they should not be forgotten as the stake holders in this debacle. I am paraphrasing, but Tester and the others expressed incredulity that we, the innocent victims of misleading sales pitches for refinancing our homes and small businesses are now being asked to pay for Wall Street's excesses and Bush administration's determined lack of regulation and oversight. Paulson and Bernanke are giving us five to ten days to fork over our futures and any hope we ever had for a better life for our children, without rules in place and no idea what we're buying, and whether we will ever see a return on our investment in Wall Street's glutonous, greedy, frenzy of bloated bonuses and Golden Parachutes--which sounds every bit as obscene as it, in fact, is. Just for starters they want a trillion dollars of our hard earned. And we get nothing in return, and if they run off to Argentina with the loot, too bad, sucker!
From the New York Times: This link gives you all the CEO's of the entities we have bailed out so far, and the amount of their bonuses and golden parachutes. If you or I had a business and ran it badly, would we get bailed out? I want someone to explain to me why these bastards are rewarded for their failures. Not just failures, but failures that are putting our entire economy at risk, our future as a nation at risk. If you know the answer to this question, please tell me.