Bail Out Plan is a JOKE!!!!!

So, I just got off a phone conversation with a politician friend of mine who is a high-level staffer for a local congressman. I asked him what this whole “Bail out Plan” means. He has spent the last 2 ½ - 3 days analyzing this bill for his congressman boss and says if everyone actually knew what this thing really said, they would be even more furious.

Apparently, your politicians (if they have actually read it) are astonished in how the Bush Administration actually presented this bill. The Bill the Bush Administration actually presented to congress was only SEVEN pages long AND it literally said that Paulson and Bernanke have full control over where to distribute, what to use the money for, and stated that there would be absolutely no oversight from anyone. This is for the $700 Billion that is currently in deliberation and does not include the $700 BILLION to over $1 TRILLION they have already spent on Bear Stearns and the takeovers of Fannie Mae, Freddie Mac and American International Group Inc. This is a total of $1.4 to $2 TRILLION for bailing out huge firms that are the ones that took the risk. You and I didn’t take that risk, those companies did.

Apparently, our entire congress has become very wise in how this administration likes to do things. They have realized that the administration likes to scare everyone into doing things quick/without analysis and want things done NOW. Take the funding for this endless war…“we need it now…it is an emergency.” This financial thing is the same…“this is an emergency…the economy will fail unless we get this money quickly.” And again, as with the war, there are NO guarantees for financial success if this money is given to these companies.

My friend said both democrats and republicans alike are furious because the administration wants it done so quickly. Both sides have said, “No. All through this administration, you have told us we need it done, and need it done now, but no…we need provisions and we are going to work this through.” He went on to tell me that it was either today or yesterday that Dick Cheney came into the deliberation meetings and the republicans were irate with him and his administration for doing this and actually made him leave the room. They were upset because they are up for re-election and this affects them and they can not believe the administration put them into this kind of predicament.

Oh yeah, another good point that I need to make about what this proposed bail out bill states. So we have all heard that is proposed plan is basically a blank check. Now, when I heard this, I figured that blank check meant that the government would write a check to these huge corporations and would in turn take control over all these bad loans. Oh NO NO NO…this bill, as it was proposed, said the government would write a check for all the bad loans, BUT the huge firms who made the loans would still collect on them (not the government). So, in essence the government [or you and I as taxpayers] would come up with this money, give it to these companies, and they can still collect on the loans. For example, let’s say the government writes a check for $700B, these companies collect $600B of the bad loans the government already paid for. They are not still $100B in the red/hole because WE ALREADY GAVE THEM THE MONEY. They are actually $600B POSITIVE because the bill, as proposed, states they do not have to pay it back! He said if everyone in the country knew what this bill actually said, the whole country would be more irate than they already are.

I asked him about health care and why they [Bush Administration] can suddenly come up with $1 to $2 Trillion to bail out the rich in Wall Street, but cannot come up with enough money to provide affordable healthcare to every man, woman, and child in the US. He said, good point, and he proceeded to ask if I knew that if the government were to cover every man, woman, and child for healthcare that it would only cost $2 BILLION annually. I was astounded, I admitted, NO I had no idea. People, this is $2 BILLION not TRILLION like they are asking for now. I speak as though $2 Billion is not much, but in respect to the Wall Street Bail Outs, it IS cheap and every last one of us would not have to worry about having to pay a deductible every time we went to the doctor.

I just don’t get it!!!! Every person who invests in the stock markets knows they take a risk. I have money in Wall Street right now, but I know I took a risk on each dollar I put into it. Those banks knew also and should NOT be getting bailed out. There are other companies that would rise from the ashes if they were to fail. We need a huge correction and I think that now is the time. Let them fail!! Things always come back. Heck in 5 years the money in the stock market will likely be worth three times what it is today.

Now, realistically we all know that if the government doesn’t step in, things could get bad. I agree, but we definitely cannot have the bill passing as it is. We [American taxpayers / main street] need something in return. A bank does not lend out money without getting something in return, so why should we?

Seriously...they need to really think about things before they speak...

So yesterday I went home and helped insulate a shed at my parents place. OMG was it ever freaking hot up there. The interesting thing about this was that we were not insulating it for the first time, but rather re-insulating it after my sisters fiancé had already "attempted" do do it once. Wow...if I hired something done and it turned out like that I would make the person come back to redo it. Dad was not happy at all, but I think since it was my sisters fiancé, it would have been hard for him to make the guy come back. All that I could say when I saw the horrible job that had been done, was "incompetent!"

Later on we were eating and "60 Minutes" was on with an interview of John McCain. Dad was all excited. I don't remember what I said, but I know it was something that totally dissed McCain and Palin. Dad was like..."Oh I don't think so." So I went on, but really didn't get to say what I wanted as I was getting upset that he is such a supporter of McCain. I had to make myself leave. It is not like I walked out pissed off, but I rather excused myself politely, without confrontation...like the discussion had not just happened.

Anyway, I wanted to say this:
The only people who vote republican are afraid of 3 stupid things, that make for a very poor poor decision.

1. Money/Taxes: OMG the democrats are going tax me more. Come-freaking-on!!!! Really do you think they are going to tax you out of your house, which more than likely you are already backwards on because of the republican administration that currently f'ed things up? Oh and I also did say this to Dad, "Do you think that, no matter who gets into office, taxes will stay the same?" Are you kidding me!!! They just put up $2 BILLION to bail these stupid fucking banks out. Who do you think is going to have to pay back that $2 BILLION? It is going to be you an I, TAXPAYERS! And how do you think they are going to have to do it? RAISE TAXES. Very good class!! It is like teaching a bunch of second graders how to count a dollar!
2. Guns: OMG the democrats are going to take away my guns. All I have to say is....are you fucking kidding me people! Get REAL!!! If that was even proposed, there would be enormous upheaval and this country would be doomed!
   Family values/abortion: OK OK OK....this is a good one. Let's look at the stupid republicans that are currently running for president and vice president. Palin comes across as a perfect little housewife in a town of 6000 people. Really, lets REALLY analyze this!! Ok so Palin, who is the mother of 5. Looks all rosy on the outside doesn't it? Well, her 17 year old daughter dropped out of high school and has an illegitimate/bastard love child. Hummmmm let's think about this one...yeah I don't think that is what the majority of Americans what for their 17 year old children...High School Dropouts with bastard grandchildren. That is, unless you want to be considered total white trash! Now onto the other candidate. Yeah...McCain, now this is a good one too! So McCain goes to war, gets held as a POW. This is totally admirable and I give him a ton of credit for having to go through that. However, his wife is back in the US, gets in an accident and is severely injured. McCain comes back and actually meets a woman that is 13 years younger and is much prettier than his current wife. Oh yeah, and she is enormously wealthy. So he goes out and decides to file for a marriage license, but it is not in the state that HE IS STILL MARRIED IN!
3. Family values? Not the family values I would want in my household...regarding both their situations. Oh yeah, and abortion...Are you kidding me!!!! It sounds like the catholic's have their hand in this one. The republicans might as well out-law contraceptives too. This is not 1930 anymore. Get real!!!!