Wall Street BailOut Fails, So Now What

So you must have heard by now that the bailout failed to pass in the House.  I am not sure if I am surprised or not since what I knew about it I did not like, but I kept hearing that it was going to pass by mid day Monday.  Well guess what, it did not happen.  The biggest issue I believe is that this package is being advertised as something that must happen now, don’t bother reading or understanding what it all means right now, just sign it and lets go.  Well, how many of you have just signed something without at least trying to understand what the document meant first..hopefully none of you.  In either event, there is a belief that the bill that is before all of us is basically a document identifying $700 Billion Dollars that you and I will be paying off until we die and then our children and their children will be paying for.  Alot of these top executives were making millions and millions of dollars ignoring what was going on with their business because they did not care either way.

These Executives get millions in salary, bonuses, perks whether they do well or not so why shoud they care.  There is no performance index that says, hey, you keep the company profitable, you can make more money but if the company looses money, you make less.  So now we Americans are asked to flip the bill because these greedy execs and companies tried to make alot of money off the working class people.  And in addition, I would have thought that they would have thrown in some help for all those people struggling to keep their homes…guess what, nope!  But the Automotive industry wanted some money and made $25 Billion available to them.

I am not saying that nothing should happen, something clearly must be done to stop the leak in this damn, but before mass hysteria takes over (and I blame Bush for using the wrong words in his speech saying that we are in turmoil) he should have called for calm.  He tried to get this bill sent through on the heals of fear and it just didn’t work.  Something will eventually occur to fix this problem, I just hope that all Americans are taken care of by the government that we continue to support.

This is just my opinion on the current state of affairs and are just my ramblings..you may have a different take entirely. Comments are welcomed!

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~ by ToughGuy on September 29, 2008.

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