Stop whining and let our government try to save us from disaster
Bailout, rescue plan, whatever you want to call it. Congress is getting ready to vote on this $700 Billion plan to try and save the financial world from collapsing. And out comes everyone (including Michael Moore) to whine about it. No! Don't bail out the rich executives who got us into this mess!
Well guess what? We have no choice. Yes, it stinks that the American taxpayer will be footing the bill (at least until the $700B is recouped). Yes, it stinks that the Bush administration created this mess and now is saying fund this or else. But we have no choice.
Why not? What will happen if we don't take action?
Let's recoup recent events. AIG, our biggest insurer - toast. Washington Mutual, 6th largest bank in USA - gone. Wachovia - done. Bear Stearns and Lehman Brothers - history. Fannie and Freddie? National City...headed down. Stock market - down 20% or so on the year. Crisis catching on in other countries now. Do we really want to just let this play out and see what happens? Don't these people have retirement accounts that they'd like to not see destroyed? Do you really think a world in which we only have a handful of banks to choose from would be good for competitive capitalism?
Stop whining. Pass the bill. What's another $700 Billion when we're already $10 trillion in debt. I'd rather not have the honor of living through Great Depression II.
Well guess what? We have no choice. Yes, it stinks that the American taxpayer will be footing the bill (at least until the $700B is recouped). Yes, it stinks that the Bush administration created this mess and now is saying fund this or else. But we have no choice.
Why not? What will happen if we don't take action?
Let's recoup recent events. AIG, our biggest insurer - toast. Washington Mutual, 6th largest bank in USA - gone. Wachovia - done. Bear Stearns and Lehman Brothers - history. Fannie and Freddie? National City...headed down. Stock market - down 20% or so on the year. Crisis catching on in other countries now. Do we really want to just let this play out and see what happens? Don't these people have retirement accounts that they'd like to not see destroyed? Do you really think a world in which we only have a handful of banks to choose from would be good for competitive capitalism?
Stop whining. Pass the bill. What's another $700 Billion when we're already $10 trillion in debt. I'd rather not have the honor of living through Great Depression II.
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