September 21, 2008

Bailout Plan: Don't Apply Unless You're at the Top of the Economic Food Chain

Greetings. The economic bailout plan being pushed by the Bush administration is coming into focus, and as one would expect from this gang it's a textbook definition of trickle-down economic theory at work.

Among some of the interesting aspects in its current incarnation that show just how far down the economic help food chain grunts like you and I reside:

- Officials are pushing for the plan (backed by U.S. taxpayer dollars) to also
apply to foreign firms with investments in the U.S.

- No limits on executive pay for the brilliant minds at the firms who will be taking bailout charity from the feds. Congress can work on that later, we're told. Phew, that's a relief! It's only fair that your lifestyles not be crimped after you've wrecked the economy through unbridled, leeching greed, and destroyed the lives of untold numbers of the ordinary folks who shop at Target and Walmart (and shockingly don't have De Beers on their phones' speed dial).

- No help for homeowners facing foreclosure

- No economic stimulus package (unless you've blown away billions of other people's dollars in an obscene orgy of rampant speculation)

- There apparently is no Plan B in case this monster doesn't work.

Here's my bottom line. At this stage of the game, I don't care how "clean" the bill is ("clean" apparently meaning direct help only for the top stratum of society). If they're going to go ahead with this immense bailout, some of these other issues need to be in there also, at least in initial forms. Trying to get them done later if and when the pressure is off may be impossible.

Hey, powers-that-be -- can you hear me from way down here? Show some decency and concern for ordinary people, just for once, huh? Surprise us all.


Posted by Lauren at September 21, 2008 09:57 AM | Permalink
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