Congress Wanted This Bailout. Let Them pay for It.

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The first version of the bailout bill was bad. The final passed version was even worse. The simple four page bill swelled into it’s final version of over 400 pages. What’s the stuff in these pages? Millions of dollars in pork. The original bill that would give away trillions of dollars to corrupt bankers wasn’t big enough so they had to add earmarks to make the bill even worse. The first bill was shot down by the House. The second bill was ten times worse and it passed. Brilliant.

If congress is so happy with themselves and the idea of bailing of Wall St. Why don’t they empty their own wallets? Unlike a lot of these people I don’t make millions of dollars a year. I don’t live a king’s lifestyle at the expense of the tax payer. The total net worth of those in the Senate and House is easily a couple billion dollars. They don’t have to worry about any financial trouble. They’ll still drive their Porsche’s and live in their mansions. Us? Well we’re still working for a living.

The reason that this bailout has angered so many people is because it is nothing short of robbery. They’re going to hand out blank checks in our names to save failed banks. The same banks that change us ridiculous fees and never come running when we need help. The same banks that were run into the ground by corrupt ceo’s that got rich while doing it. We’re out here struggling to get by and now we have to keep failed corporations alive.

It also goes beyond that. We’re all sitting back while people some of us voted into office ignore our complaints. They act like we’re too stupid to know what’s good for ourselves. Congress goes about doing whatever it wants without listening to us, without following constitutional restraints and without even understanding what they’re voting for. This bill is so complex that even veteran investors wouldn’t know what it all means. The only thing congress wanted was to do something. Didn’t have to be the best answer or the necessary answer. Just something. That way, when everything comes tumbling down they can look at us and say, “hey, we tried.”

Not good enough.

Here’s a video of Ron Paul talking about the bill. Say what you will about him but he couldn’t be more correct on this issue.

[youtube WL-9CV-qbMw nolink]

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Tags: Government Bailouts ron paul