That is the only word for this trend of government bailouts and buyouts. I will concede that these companies are important to the stability of our economy, but tell me why the Federal Reserve has to wait all weekend to decide to bail out AIG? If it had been done on Friday, the cost to the American Tax Payer would have been substantially lower.
Yet no one seems to care. In the past couple of weeks we have increased the national debt by leaps and bounds, forcing a bigger burden on the American Tax Payer – while senselessly conducting business as usual.
Congress needs to have hearings on the practices of these companies. There needs to be trials. If we are going to pay for this, then by God we need to investigate. I want to know just how shameful these CEOs are. I want to see how poorly they managed their companies.
What makes me even more sick are the Democrats who are trying to wash their hands of the problem. Ok. You want to play ball. Last time I checked, the deficit has grown since Democrats took control of the major law making body in 2006. Not only that, but things have gotten progressively worse since then. But it is not a Democrat problem.
Are you so spineless that with a Majority in the House and Senate that you cannot pass legislation? Zell Miller must have been right when he said the party was in trouble, but I didn’t realize they could not even coordinate a simple vote.
The fact of the matter is that both Democrats and Republicans are to blame for this. Shaking the blame finger at one party or another doesn’t solve the problem. Harry Reid is shaking his finger at Phil Gramm for deregulation legislation in regards to the financial services industry, Harry forgets that a number of Democrats voted with Senator Gramm – himself and Joe Biden included. Oops. If you do not have the sense to realize bad policy, why are you being elected? That goes for Republicans, Democrats, and even those Libertarians.
We are facing these issues because Congress is full of a bunch of Washington Do-Nothingers, who as long as Lobbyists and Interest Groups support them, do largely nothing of sustenance. Republicans are shifting towards spending more money while borrowing it from other places; Democrats are taxing and spending like no tomorrow. It all has to end now.
These companies are failing because they are not held accountable. We give them a safety net. Meanwhile, the Federal Reserve and Secretary of Treasury decide to call companies to arrange buy outs and decide how to use tax payers’ money to bail out companies. When did I elect these people? You mean Congress is going to sit back and let these unelected groups simply determine how much money they will take away from American citizens to save a company? Sounds an awful lot like Communism.
Congress should start arranging hearings. They should hold these people accountable. Congress won’t. It’s not the Democrats fault. It’s not the Republicans’ fault. It’s the fault of the American citizen who keeps on letting these Do-nothingers get elected. Hold your Representative accountable. Hold your Senator accountable. We may not be able to elect the Reserve, but we can sure as heck make Congress uncomfortable enough to send the message.