Demand that the Bailout Legislation Be Rejected - VoteNoBailout.org
Posted by givon on Mon, 09/22/2008 - 2:22pm inWe want to let you know about an important new initiative, VoteNoBailout.org. Please check it out, take action today, and forward widely to friends, classmates, co-workers, activists and bloggers.
Demand that the Bailout Legislation Be Rejected
We are witnessing a bankers' coup d’etat. In the name of saving the economy from a crisis created by their own greed and immense profits, Bush and the biggest bankers have taken a country and a people hostage.
“Give us your money and tear up what’s left of your Constitution or we will sink your economy,” is the message from Wall Street and the Bush Administration. “Give us the power and money we demand or you will be left jobless from a new economic depression."
Under the pretext of the banking crisis, the Bush Administration is changing the way this country operates. This is not simply taking trillions of dollars from the people and giving it to the richest bankers to do with as they see fit.
Click here to send your letter to Congress http://www.votenobailout.org/
Congress is poised to vote to give the Executive Branch of government, and specifically the White House’s political appointees in the Treasury Department, the absolute right to take our money and give it to domestic and foreign banks and corporations without any oversight of elected officials, from the courts, or from the people.
The new legislation states: “Decisions by the Secretary [of the Treasury] pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.” The Legislation allows the Treasury Department to appoint the same bankers who created the crisis to administer and dictate the use of trillions of our tax dollars.
We will not stand by and let the Bush Administration formalize its vision of a “government of, by and for the richest bankers."
The new system institutionalizes theft on a grand scale. Lehman Brothers bankers will receive $2.5 billion in bonuses after their company went bankrupt last week, but the new dictatorial authority under the White House and Treasury Department has ruled out any relief for the millions of working families who are being foreclosed.
We live in a $15 trillion annual economy. Instead of taking our tax dollars and giving it to the already rich and powerful, these funds should be used provide to decent paying jobs, affordable housing, health care and a good education for our children. There is another way!
Now is the time to hear the voice of the people. A spineless Congress authorized Bush’s illegal war in Iraq and rubber-stamped the Patriot Act. Now they are being herded like sheep again to give the White House and Wall Street dictatorial control over the people’s money.
Click here to send your letter to Congress http://www.votenobailout.org/
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>>"these funds should be used provide to decent paying jobs, affordable housing, health care and a good education for our children."
These things end up harming people by making them dependent on the government. The poor, like everyone else, need the economic opportunities that would arise from free market capitalism, and the habits of responsibility and restraint that would result from the dismantling of government "safety" nets. The benefits you describe above prevent this from happening.
What about the expense of health care and education? The cost of medical care and education would be much lower in the absence of competition from government sponsored monopolies. If we could keep all of our income there would be lots more to go into voluntary charity for the truly helpless and disadvantaged. Everyone would be better off.
As for housing, prices wouldn't have risen so drastically if banks hadn't been financing mortgages for every one that walked through the door, whether or not he was a risky bet, making it a buyer's market and driving up prices. Lenders only took those risks because they felt that the government would bail them out if worse came to worse. Investors only backed those mortgages because they were lulled into a false sense of security that the government was regulating the banks. They allowed the government to do what they should have been doing, which was to keep an eye on the stocks they were buying. This mess we are in now is exactly what happens when we trust the government, when we depend on the state to take care of us.
I care what happens to people who struggle to make ends meet. That is why I am for dismantling government entitlement programs and deregulating the market.
Exactly, Claire! The government should not be providing these things with our tax dollars. We all should help our fellow Americans in need, but through charity not taxation. We should each be able to decide for ourselves whom to help and how much we can afford to give. The government does not have the right to take our earnings and redistribute them as they see fit.
You had me until you said, "We live in a $15 trillion annual economy. Instead of taking our tax dollars and giving it to the already rich and powerful, these funds should be used provide to decent paying jobs, affordable housing, health care and a good education for our children."
No, my tax dollars should not be taken from me and used to provide for your health care, education, or affordable housing! It's called theft. You have absolutely no right to the fruits of my labor! NO SOCIALISM whether it be for private banks, private corporations, foreign investors, or private citizens!
I still gave you a thumbs up, though, for encouraging people to take action against the bailouts. :)
You can also write to your Senators, Representatives, President Bush, etc. at www.congress.org.