Posted by: shannynmoore | September 29, 2008

FREE MARKET IS GETTING EXPENSIVE

For years I’ve heard the right wing rant about “free market”. Privatizing profits and socializing risk. Do you think they are telling us how bad it really is? David Sirota has written an article that boils it down pretty quick.

1. BAILOUT’S INHERENT FISCAL INSANITY COULD MAKE PROBLEM WORSE

2. EXPERTS ON BOTH THE LEFT AND RIGHT SAY THIS BAILOUT COULD MAKE THINGS WORSE

3. THERE ARE CLEARLY BETTER AND SAFER ALTERNATIVES

4. ANY INCUMBENT VOTING FOR THIS PUTS THEMSELVES AT RISK OF BEING THROWN OUT OF OFFICE

5. CORRUPTION AND SLEAZE ARE SWIRLING AROUND THESE BAILOUTS – AND AMERICA KNOWS IT

To contact your Congressional Representation click here.

Time for a dose of Vitamin Democracy. Show up.


Responses

  1. Two hours after the President announced this plan, I posted one that would have sent the money to citizens’ accounts in new banks. It would have provided all the liquidity of the compromise plan and left the strongest existing banks to compete and survive. But the money would have passed to the economy through the citizens who have a stake in the future of the country, instead of through Wall Street. Now that the compromise plan is defeated, maybe my idea will gain a few adherents. If anyone wants to read the plan, just Google “Cleo for President”

  2. I’m not nearly smart enough to craft an economic bailout. I can barely balance my checkbook. Still, the rush to solve this problem is very unsettling.

    Perhaps with this defeat in Round 1, alternative solutions will begin to be heard and given a fair evaluation. As complex as the field of economics is, I have to believe that there may be more than one potential response to the liquidity problem.

    The Admiral and I have always borrowed from our state credit union, which has no interest in golden parachutes or profit-making, so we feel a bit of safety there. On the other hand, Walk-Over-Ya holds our checking accounts (for now) and it may be time to move those too.

    We help support our aging parents as we look towards retirement ourselves. This is not the time we want to hear about financial crises.

    I need a drink.

    http://www.nikonicus.net


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