CONGRESS APPROVES 700 BILLION BAILOUT

Un-American George Bush

Congress approved an the $700 billion United States government bailout of the financial industry today and sent it to President George W. Bush for his signature. The final vote was 263-171 in the House, a comfortable margin that was 58 more than the measure garnered in Monday's vote. The vote capped two weeks of battling in Congress and on Wall Street, punctuated by daily warnings that the country faced the gravest economic crisis since the stock market crash of 1929 if lawmakers failed to act. At the White House, Bush declared, "We have acted boldly to help prevent the crisis on Wall Street from becoming a crisis in communities across our country." Everyone in this country should be sad and mad that the crooks in Wall Street who made Millions and Billions, have been allowed to rip off the citizens of this country. Times Square Gossip readers voted almost 2 to 1 to not bail out wall street. They got the votes because they got to bribe our elected officials legally by offering them another 150 billion or so for their pet projects. I think this really sucks. George Bush is the worst president we ever had. He will go down in history as such !

Comments

Anonymous said…

When President Bush first submitted the bailout bill two weeks ago, I agreed that it was urgently necessary. I also understood that the Senate and Congress would need to refine the terms. It needed to have more control to protect taxpayers. Our elected representatives have added weak oversight to limit Secretary Paulson’s complete discretion and control of all $700 billion. It minimally addresses CEO pay restrictions, but not foreign owned institutions, leaving them in the bailout pool. Nothing in the bill addresses citizens facing foreclosures. All of these things seem at least related to the current financial crisis, but promise little in the way of protecting the tax dollars we will be investing in the economy. It ultimately does appear to be the powerful giving our money to the rich, again. Adding insult to injury, unrelated issues have found their way into the bill, such as energy and tax bills, as well as pork barrel, which take up over three-quarters of the verbiage.

If we had any faith in the way our government worked before this bill, citizens must now acknowledge that our elected representatives aren’t capable of addressing our country’s business needs quickly, sufficiently, or without taking care of their own wants first. At this point, I don’t trust the legislative or executive branches of our government to handle any of our nation’s concerns. They have proven their complete ineptitude while formulating this bill.

8:19 AM