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MichaelHarris Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-26-08 02:20 AM
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My thoughts?
Edited on Fri Sep-26-08 02:23 AM by MichaelHarris
Not that I know anything but here it is. Most people who hate the idea of a bailout hate it because it's rich guys getting money for making mistakes. They ask, "when I mess up the government doesn't bail me out." Those are valid points and questions.

Here is where it gets hard. These companies that are failing control the lives of millions through their investments, loans, and accounts. For them to fail means millions of Americans loose. So now we find ourselves looking beyond the rich fat-cats who messed and see those who trusted them. People like you and me.

The solution? Well if you're a caring American and recognize that not only will the CEOs loose, so will everyone else who trusted them. You start to see the bailout as a good thing, sort of.

Here's the sort of part. You can't give billions of dollars to greedy corporations, that's the Bush plan. Give, give, no over-site, no return. Basically it's a reward to all those fat-cats who supported him. Why Conservatives hate it? They hate give-away programs. They don't want their tax dollars helping anyone. The problem Republicans have right now is, they take the money from the same guys Bush did. These guys expect, no they demand favors. These Republicans are up for re-election in November, they can't have their base see them bailing out these companies.

So now what? They walk away from the bargaining table hoping the Democrats come up with a plan they can later use against them. You'll see things like, "Obama caved", "Franks is in the pocket for big business". The Republicans can in no way support a bailout, publicly that is. Their goal is to blame it on the Democrats.

Now, what is the best action? Two words, over-site, and return. Exactly what Franks, Dodd, and Obama want. They see that by giving the bailout they are saving these companies and their American families. Not necessarily the CEOs but the millions who trusted them.

Over-site, the money has to be watched closely. These men just can't take giant retirements and run, they have to fix things. Obama has said over and over that none of these people would get those golden umbrellas. I believe him.

Return, when you invest in something there has to be potential return. If these companies return to prosperity then the investors, you and I, will profit. We share in the profits once these companies turn themselves around. Now I know, Iraq would pay for itself. Remember though, an idiot said that. His train has left the station. What Democrats working on this have to do, and this is the most important thing, is to make sure the Republicans cannot hide from this decision. They will surely use it in negative campaigning in November. They are also accountable.

Michael Harris
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