Moving Out of your Political Comfort Zone- The Bailout, folks don't panic!
I usually don't do this; I mean write political articles, except for the occasional comments I send to my favorite blog: Life on Terra Firma, (I like the articles written by NY Nerd. Hey Gurl!). My fellow blogger 'Chris' is one of the members that run the blog, (and I'm thinking runs the thing with NY Nerd). At anyrate no more shout outs, let's get back to business.
The reason why I'm writing this on this blog today is that this whole bailout thing is pissing me off. It's got me so heated up that I'm writing in my blog that is usually dedicated to fun stuff going on in Brooklyn and NYC. But I had no other choice, it's a writer's responsibility to write the truth as they see it and this writer is got to write the truth as I see it!
Now everybody has heard the reason's why this bailout is soooo important and hopefully have heard the other side of why it's not. I mean the Government and Wall Street have pressed the panic button and cried wolf because their afraid of what this means to their rich supporters pocket books.
They've gotten half of Congress and via them half of some Americans thinking that if this bailout doesn't happen that if Wall Street falls we will be headed for another recession.
News Flash people, we are in a Recession Now! We have been since last year as Unemployment steadily climbed up and foreclosers where coming up left and right. So what do they do? Ignore the problem till it becomes to late, affect Wall Street because of the loans they supported with the mortgage companies via stock loans. Oh look now it's Fall 2008 and oh dear we have a problem Huston! Now would the government please be so kind as to give us the money to pay of the debts of the failing banks and mortgage companies so that they don't go bankrupt. Huh!
No matter that taxes go up, the very thing that the Republicans swear up and down that their going to prevent. No matter that the American people will be the ones cleaning up the mess. Oh no let's go down to Washington vote for the bill and then while we're added drag the Democratic Senate into the mess!
Now I know that their are some people that noted that Pelosi supported the bill the first time around but the ole gal had a bit of a trick up her sleeve where as she ask dems to support the bill but not if their consciences or their constituents would not let them. There by lessening the votes and making it easier for some in Congress, (Strangely enough both Rep and Dems), to not vote yes. So as you can see their are some people in Washington with some sense. (Not much but it's all we got, for now. Shush NY Nerd! I know, I know!)
But now what is happening the Dow Jones takes another dip and all of a sudden it's a certainty that this bill is needed. (Luckily for me I checked that little box that said all this is adult content but pardon my french anyway.) Bullshit! The media had said it's because that the first time it didn't go though it was because constituents called up their Representatives in Washington stating that they didn't like the idea because it affected Wall Street not Main Street. But now these same constituents seeing how the low Dow Jones has fallen down to 777 think that now all of a sudden that this will affect Main Street. Yeah, hmm, hmm, yeah right whatever!
Look just in case there is a minority group of people out there who are shaking in their boots right now about what will happen if the bail out doesn't go thur. (Though as of this writing it looks like your fondest wish will come true.) I am going to drag you from out of your comfort zone for a bit.
First of all, now listen cause I'm only going to say this once, it will not have that much of an effect on Main Street America. I'm no financial analyst or a political pundit but I'm going to give it a go and break it down for you. If you don't have any investments in Wall Street it won't affect you, if you don't have a bank account with these following banks it won't affect you : Wacovia,IndyMac Bancorp, AIG, Washinton Mutual, and countless others, if you don't have an investment in one of the investment firms like Bear Sterns, one more time people, it won't affect you! If you own a home that is in mortgage with one of the formentioned banks then yes you are having some issues and I feel for you I really do. (But hey I live in an apartment building and if my Landlord has trouble with his bank I'm as screwed as you are. So back to Main Street shall we?)
So of course your saying well Clueuin let's say I am one of those people, what the heck can I do?
If you can pay off your mortgage before it's to late. If your in forecloser; well I did mention that I'm not a Financial analyst or anything? So all I can say is that my prayers for what is worth are with you. If you haven't been laid off due to the carelessness of Corporate American then your better off than you think and when you move to new digs (if God forbid your not homeless or anything), do not what ever you do when you get a second chance to get a home and your paid off, get a second mortgage. It is in my humble opinion one of the reasons we're in this mess to start with. Real and more honest Financial analysts have been saying for years that this borrowing money with credit and getting second mortgages to pay off your debts was not a good financial idea. (Now in the interest of full discloser I've got credit card debt up the ying yang because I thought that it was a good idea at the time to use my college loans as collateral to get credit. That might be a subject for a later time, might not but take from my experience a cautionary tale at best.) As it is I can see no light at the end of the tunnel from Wall Street getting this Bailout.
So there you are in the majority of people who didn't do all those things to get yourself in this mess or in some cases the mess the banks and corporations have gotten some people in; and your wondering if this will affect you. It won't if your not in the above mentioned situations.
So why does America need this bailout. It doesn't! If the banks were doing there jobs safe keeping our money instead of speculating in Wall Street, if the mortgages hadn't loaned people with bad credit at high interest rates that they could ill afford to payback when this mini-recession hit leading to the forecloser crisis, and if Wall Street had not backed this same loans, they wouldn't need the U.S government to pull their fat out of the fire.
All those years of threatening to cut spending to programs that help people like medicaid, all those years of throwing a hissy fit as the mere mention of a United Health Care (which would save millions for small and big businesses alike), all those years of overseas investments and sending jobs over to India (without due compensation to said employees of that country I might add), then expecting the American government to give these same business taxes breaks. Then turning around and saying that; 'America is a country that expects people to pick themselves up by their own boot straps and should not expect the American government to aid them through government aid'. (Whoever said that is a booby!) And what happens when they fuck up?
I tell you what! Waa, waa, if you don't help us America is going to be in a financial crises and fall into a recession if you don't help us clean up our mistakes. If any social needing group like the elderly, the unemployed, or any disenfranchise group came to Congress with the same plea all Congress would do is cater to any lobbyists making a squawk about how this will affect what ever Corporate industry felt like they would take a hit in making profits and say no. But because it's Wall Street and other corporate identities we the American tax payer is suppose to Bail them out! They must be crazy!
Ladies and Gentlemen if this bill goes through it will be the American people on Main Street that will be screwed! If not with higher taxes because as of this writing this bill is being revised to prevent that. (Big F*ing deal!) Then with Corporate America never ever again taking responsibility for it's actions because all it's has to due is continue what it's doing in it's laid offs, transfers of business overseas that will bring about even higher unemployment. Then (and this is when it get confusing even for me folks) that's when Main Street will feel it babies! That's when we will all be standing on line at the food banks. (As it is I know I'm seeing my fair share of former middle management types standing in line with me as late.) So as it stands I hope that their are still some holdouts in Congress that will not say yea to this bill in any of it's guises.
It's time Corporate America to pull up you own freaking bootstraps!
That's my two cents for what it's worth.
Peace,
Clueuin
The reason why I'm writing this on this blog today is that this whole bailout thing is pissing me off. It's got me so heated up that I'm writing in my blog that is usually dedicated to fun stuff going on in Brooklyn and NYC. But I had no other choice, it's a writer's responsibility to write the truth as they see it and this writer is got to write the truth as I see it!
Now everybody has heard the reason's why this bailout is soooo important and hopefully have heard the other side of why it's not. I mean the Government and Wall Street have pressed the panic button and cried wolf because their afraid of what this means to their rich supporters pocket books.
They've gotten half of Congress and via them half of some Americans thinking that if this bailout doesn't happen that if Wall Street falls we will be headed for another recession.
News Flash people, we are in a Recession Now! We have been since last year as Unemployment steadily climbed up and foreclosers where coming up left and right. So what do they do? Ignore the problem till it becomes to late, affect Wall Street because of the loans they supported with the mortgage companies via stock loans. Oh look now it's Fall 2008 and oh dear we have a problem Huston! Now would the government please be so kind as to give us the money to pay of the debts of the failing banks and mortgage companies so that they don't go bankrupt. Huh!
No matter that taxes go up, the very thing that the Republicans swear up and down that their going to prevent. No matter that the American people will be the ones cleaning up the mess. Oh no let's go down to Washington vote for the bill and then while we're added drag the Democratic Senate into the mess!
Now I know that their are some people that noted that Pelosi supported the bill the first time around but the ole gal had a bit of a trick up her sleeve where as she ask dems to support the bill but not if their consciences or their constituents would not let them. There by lessening the votes and making it easier for some in Congress, (Strangely enough both Rep and Dems), to not vote yes. So as you can see their are some people in Washington with some sense. (Not much but it's all we got, for now. Shush NY Nerd! I know, I know!)
But now what is happening the Dow Jones takes another dip and all of a sudden it's a certainty that this bill is needed. (Luckily for me I checked that little box that said all this is adult content but pardon my french anyway.) Bullshit! The media had said it's because that the first time it didn't go though it was because constituents called up their Representatives in Washington stating that they didn't like the idea because it affected Wall Street not Main Street. But now these same constituents seeing how the low Dow Jones has fallen down to 777 think that now all of a sudden that this will affect Main Street. Yeah, hmm, hmm, yeah right whatever!
Look just in case there is a minority group of people out there who are shaking in their boots right now about what will happen if the bail out doesn't go thur. (Though as of this writing it looks like your fondest wish will come true.) I am going to drag you from out of your comfort zone for a bit.
First of all, now listen cause I'm only going to say this once, it will not have that much of an effect on Main Street America. I'm no financial analyst or a political pundit but I'm going to give it a go and break it down for you. If you don't have any investments in Wall Street it won't affect you, if you don't have a bank account with these following banks it won't affect you : Wacovia,IndyMac Bancorp, AIG, Washinton Mutual, and countless others, if you don't have an investment in one of the investment firms like Bear Sterns, one more time people, it won't affect you! If you own a home that is in mortgage with one of the formentioned banks then yes you are having some issues and I feel for you I really do. (But hey I live in an apartment building and if my Landlord has trouble with his bank I'm as screwed as you are. So back to Main Street shall we?)
So of course your saying well Clueuin let's say I am one of those people, what the heck can I do?
If you can pay off your mortgage before it's to late. If your in forecloser; well I did mention that I'm not a Financial analyst or anything? So all I can say is that my prayers for what is worth are with you. If you haven't been laid off due to the carelessness of Corporate American then your better off than you think and when you move to new digs (if God forbid your not homeless or anything), do not what ever you do when you get a second chance to get a home and your paid off, get a second mortgage. It is in my humble opinion one of the reasons we're in this mess to start with. Real and more honest Financial analysts have been saying for years that this borrowing money with credit and getting second mortgages to pay off your debts was not a good financial idea. (Now in the interest of full discloser I've got credit card debt up the ying yang because I thought that it was a good idea at the time to use my college loans as collateral to get credit. That might be a subject for a later time, might not but take from my experience a cautionary tale at best.) As it is I can see no light at the end of the tunnel from Wall Street getting this Bailout.
So there you are in the majority of people who didn't do all those things to get yourself in this mess or in some cases the mess the banks and corporations have gotten some people in; and your wondering if this will affect you. It won't if your not in the above mentioned situations.
So why does America need this bailout. It doesn't! If the banks were doing there jobs safe keeping our money instead of speculating in Wall Street, if the mortgages hadn't loaned people with bad credit at high interest rates that they could ill afford to payback when this mini-recession hit leading to the forecloser crisis, and if Wall Street had not backed this same loans, they wouldn't need the U.S government to pull their fat out of the fire.
All those years of threatening to cut spending to programs that help people like medicaid, all those years of throwing a hissy fit as the mere mention of a United Health Care (which would save millions for small and big businesses alike), all those years of overseas investments and sending jobs over to India (without due compensation to said employees of that country I might add), then expecting the American government to give these same business taxes breaks. Then turning around and saying that; 'America is a country that expects people to pick themselves up by their own boot straps and should not expect the American government to aid them through government aid'. (Whoever said that is a booby!) And what happens when they fuck up?
I tell you what! Waa, waa, if you don't help us America is going to be in a financial crises and fall into a recession if you don't help us clean up our mistakes. If any social needing group like the elderly, the unemployed, or any disenfranchise group came to Congress with the same plea all Congress would do is cater to any lobbyists making a squawk about how this will affect what ever Corporate industry felt like they would take a hit in making profits and say no. But because it's Wall Street and other corporate identities we the American tax payer is suppose to Bail them out! They must be crazy!
Ladies and Gentlemen if this bill goes through it will be the American people on Main Street that will be screwed! If not with higher taxes because as of this writing this bill is being revised to prevent that. (Big F*ing deal!) Then with Corporate America never ever again taking responsibility for it's actions because all it's has to due is continue what it's doing in it's laid offs, transfers of business overseas that will bring about even higher unemployment. Then (and this is when it get confusing even for me folks) that's when Main Street will feel it babies! That's when we will all be standing on line at the food banks. (As it is I know I'm seeing my fair share of former middle management types standing in line with me as late.) So as it stands I hope that their are still some holdouts in Congress that will not say yea to this bill in any of it's guises.
It's time Corporate America to pull up you own freaking bootstraps!
That's my two cents for what it's worth.
Peace,
Clueuin
Comments
What a lot of people are overlooking is that this bill is not just going to cost us (Main Street) a ridiculous amount of money but that we're giving it all to the same idiotic government officials and greedy corporate fatcats that f*cked everything up so badly in the first place. They did such a great job in the first place, why not let them go for Round 2 -only with more power and OUR money??? FSM help us all!
Peace,
Clueuin