Ollie Hope: Bailout unnecessary

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To the editor:

Does anyone, anywhere believe the Wall Street bailout is anything but another Big Oil and Bush money-making venture for themselves and the rest of the American wealthy crowd? They've been going on for the past eight years while billing the low-income and working classes for all the costs, of which the inhuman slaughter in the Middle East has been only one example, but the most profitable so far, I believe. But with all the media propaganda, 24 hours a day, and politicking going on in secret, it's hard to tell; plus all the nonsense about another election with both candidates bankrolled by the same wealthy and from profits earned for them with the lives and dollars of the non-wealthy, which the White House, the commander in chief, Congress, the Pentagon, the U.S. Supreme Court and the Washington, D.C., crowd call "democracy."

George W. Bush calls it in private, "Good business sense."

A change? Ha, ha!

Ollie Hope

Crai

Comments

citizensforgrowth 6 years, 2 months ago

This bill if passed will do nothing but float the banks. The three major forces that drove the economy for the last ten years have been shattered . The three were cheap gas, easy to get credit at historical low rates and lastly homes that apreciated at 20 to 25% a year and more. This bill will not restore home values much less bring back the good old bubble days of 20 to 25% apreciation. This bill will help the banks but if they tighten standards on loan applicatons(as they should) then fewer people can get loans which also will not bring back those good old irresponsible, care free days. And lastly ,this bill does absolutely nothing about the other side of the problem. The one thing thats removing money from peoples pockets as fast as the housing correction. The price of fuel. The price of fuel effects the price of absolutely everything. If we are to ever be serious about reviving the economy and putting money back in peoples pockets this side of the two headed monster cannot be ignored. Remember folks, the last time oil was $90 a barrel gas was $3.09 a gallon. Last I checked $3.92 wasent even close. Whose pocket is being filled now. In the ninties we had a technology bubble,followed by the real estate bubble. Do I smell a commodity bubble? One thing is certain,no matter what the economic climate sombody always finds a way to make money. Which is good,its the American way but in this case its at the expense of our economy.

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citizensforgrowth 6 years, 2 months ago

Good stuff taxslave. The government buying all the debt so we can start all over again is not the answer. For the last 25-30 years we have created an economy that requires us to spend more than we make to keep things going. Well,the credit ran out in the late 90;s so we started the housing bubble that bought us another ten years of irresponsability. When that horse ran out of steam everybody jumped on the commodity bandwagon and that finished the economy off. Bottom line is even if the government dumps money into the banks,with tighter lending standards fewer people will be able to qualify for loans (not a bad thing,everybody qualifying,thats what caused this mess). Still waiting for them to address the real problem.

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