We all know I’m against the bailout. That said, let the finger pointing begin…
Bush wants the bailout and 140 Democrats were willing to give it to him. Only 63 Republicans agreed with our commander and chief. <sigh> The Republican Party has found it’s balls at the wrong time for some people (well, except for the pussy who didn’t put in a vote at all). The Dow dropped over 600 points at the sound of the failure.
But, what I find most humorous is that Barney Frank blames the Republicans and Rep John Boehner blames Nancy Pelosi. She gave some speech and the Republican Party balked and said we’re taking home our ball and we’re not playing.
Yeah, that’s helping us right now, fellows. I disagreed with the bailout because there wasn’t enough protection for the taxpayers. I don’t want to pay 700 billion dollars to bailout financial institutions. You want to spend 700 billion dollars, how about putting that money aside and let homeowners who need a little help borrow the money from the government. Let’s say everyone who owns a home and is in an ARM can refinance their homes to get out from under that ARM. That should save some homeowners. But, if you have chosen to not pay for your home and there isn’t a reason, such as job loss or medical illness, you just lose your damn home. If you’ve lost your job, you can borrow from the government, if not, too bad. If you need retraining because you’ve lost your job and your skillset isn’t able to get you a new one, let’s loan you the money with which you can go to school.
But, instead, the Republicans did not follow through on their promise and they want to blame it on a speech. Well, see if that helps you in the next election, fellows. You’ve let down a lot of Americans. I’m in the minority on this bailout. You’ve screwed yourselves.
One last thought: We are not going to save our economy by balancing it on the back of home values, which is what we’ve been doing the last couple of years. We spend 10 billion a month in Iraq — that’s 120 billion dollars a year. Think of how well our economy might be running if that money had been spent here.
PS. Note to GOP: Hope you don’t need a new home loan.