$700 Billion

Tuesday, September 23, 2008

Ok just a few thoughts on this proposed $700 billion bail-out. First off, this CANNOT be rushed to a vote! With this much money involved, money that has to be borrowed from other countries I might add, Congress simply CANNOT push something though without looking at it closely and deliberately. ALL of this money must be monitored and the companies who it buys must be monitored. THERE MUST BE OVERSIGHT! The CEOs and other heads of these companies MUST NOT be allowed to walk away with billions made from companies they have run into the ground (ie no golden parachuets period). 6 months ago Bear Sterns failed and yet nothing was done. Yes things are bad BUT if they are that bad then why wasn't something done sooner? I'm no expert but what I do know is that when bills are pushed through without proper thought and time to evaluate (ie Patriot Act, Authorization to invade Iraq, etc), even when there are obvious flaws, it is a very bad thing. Flaws are NEVER fixed later on and with this much money involved, passing a bad bill will cripple us. Lastly all of this bailing will mean absolutely NOTHING if the regulations are REINSTATED to stop this from happening again. The Great Depression, Savings and Loan collapse, and the present state ALL were caused in part by deregulationing, or completely lacking regulations, companies and agencies that NEED to be regulated.