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Letters to the Editor

What’s the rush?

September 25, 2008

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To the editor:

Is anybody else seeing an ominous parallel between the rush to bail out Wall Street and an earlier, hugely costly Bush administration misadventure?

Should we really be hurrying to present the president with another blank check?

Brian Daldorph,
Lawrence

Comments

just_another_bozo_on_this_bus 6 years, 3 months ago

Quite right. This "crisis" has been forming since 1980, when the voodoo economics known as "Reaganomics" was implemented. Taking very modest steps now, and not allowing this full-out raid on US taxpayers by the criminals who have created this mess, is the only prudent course.

David Omar 6 years, 3 months ago

No No No. I am totally against the bailout, but we have no alternative. We need to control this very tightly and elect a responsible president to oversee this for the next 4 years. Too bad McCain can't multitask as he has admitted, and I hope Obama can. If we fail to do this, all of us will be out of work and in the soup line. This is very important. The problems with this is that CEO's take home hundreds of millions each year in compensation and millions in stock options. No man, woman or child is worth $100 MILLION a year no matter who he/she/it is. This is exactly what we need to monitor.

christy kennedy 6 years, 3 months ago

Absolutely. Many sounded the alarm along the way. Trying to ram a near trillion dollar "fix" with no oversight or regulation down our throats is piracy, plain and simple.

Rex Russell 6 years, 3 months ago

Long, but sounds about right. Other predictions 1. Obama will end up a Jimmy Carter like era presidency with one term. Struggling to right a sinking ship. 2. No formulative and substantial legislation to prevent this happening again will come of it. Just patches and pretend to fix laws. Wall Street lobbying money will seal the taxpayers fate. 3. Cleaning up this mess will take 10-20 years, a generation. 4. A new era, a new wave, of public attention and scrutinization of Washington politicians will ensue. 5. A 3rd viable party will come out of this crisis after people will come to understand both parties sold us down the river.

bondmen 6 years, 3 months ago

Look, there's pleanty of blame to go around on both sides of the isle. It is the height of stupidity to throw good money after bad and that's about what they're all going to do!Liberals and conservatives can agree that bailing out big shot Wall Street Banksters and their toxic financial engineers is not what we desire be done with our hard earned tax money! So let's make our voices be heard.I encourage you to contact your Senators and Representative in the District of Corruption and tell them no bailout of the Federal Reserve by the US Treasury!Phone and fax numbers are here:http://globaleconomicanalysis.blogspot.com/2008/09/phone-and-fax-numbers-for-all-us.htmlHere are some great resources to help with proposed wording and sending methods:http://globaleconomicanalysis.blogspot.com/2008/09/response-to-bush-speech-no-deal-start.html

Richard Heckler 6 years, 3 months ago

On Wednesday, George Bush went on TV to sweet-talk Americans into letting him steal $700 billion of our tax dollars - $2,333 for every man, woman, and child - to bail out his greedy rich friends on Wall Street.Today (Thursday) Bush will meet with Democratic and Republican leaders to finalize a deal that gives Bush nearly everything he wants, but nothing America needs: * The people who caused the problem or profited most should pay for it * Re-regulate to prevent this from happening again * Include Main Street in the bailout and invest in a new productive economy Worst of all, it's another massive fraud. Bush lied to our faces when he promised to buy toxic securities "at their current low prices... and we expect that much, if not all, of the tax dollars we invest will be paid back."Bull. This is the same administration that promised the invasion of Iraq would pay for itself through lower oil prices. The cost of that disaster is now $3 trillion and climbing, not to mention millions dead, maimed, or exiled.

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