Why the Bailout is Bad for America
1) Current elected officials can not even balance their own checkbooks needless to say the federal budget. So why in the hell should we believe that they can manage this bailout. They can't, and this is reason number one.
2) Corporate responsibility is being swept under the rug. No one is being held accountable for bad decisions that lead to this mess. This includes protection for the members of Government and their lack of responsible fiscal responsible oversight. Barney Frank, Chris Dodd.
3) The government is running a deficit now. By assuming more debt in the form of bad credit and piss poor deals, will only lead to more knuckle heads walking away from what the owe. Claiming hardships and other bogus B.S.
4) This bailout despite the spin is nothing but socialism. It nationalises Mortgages, sets limits on executive pay, and moves the government into a position of coming back within the year to ask the tax payer for more and more money.
5) The consideration for and of foreign investors is being placed on a priority level that gives way to much power and credit to foreign powers, in a say as to how we operate our economy. It also opens up the door for more mismanagement of foreign aid being given out. Which increases the national debt and creates moire welfare states around the world.
6) This bill does not address bailouts for other industries who are now feeling that they are being treated unfair and not represented in government. 25Billion for the auto industry.
7) How does this bill address the problem of financial institutes to continue to issue credit. It promises unwritten funds for bad credit on loans not related to the mortgages but this opens yet another door for people to walk away from credit cards , car, and personal loans that they feel are now a burden do to their lack of fiscal understanding of their own situation.
This bill entrenches the socialist ideas on economics. A counter to the way we have operated for over two hundred and thirty years. It punishes those who are fiscally responsible by making them accept responsibility for those who want to dabble in economics and play at being knowledgeable, meaning congress and certain CFO's and CEOs.