Why the Senate passed bailout is a load of rubbish
or where's my unicorn and puppy?
I'm assuming since there's a lot of bad feelings about this shit in both parties I'm not breaking my no politics vow here. Among other things, I just can't get past the price tag. And I know people have tried to convince me we'll earn it back, but I can't help but feel Wall street is doing to the US what the US did to the USSR back in the 1980's... AKA force us into bankruptcy. We already are several trillions in debt as a nation, we're pissing money down a hole in military actions (whether or not I think those are justified, I won't say. I'm merely pointing out war drains money, particularly when we didn't take steps to get us out of a peacetime economy to pay for them), etc.
while the stock market fluctuations do hurt oh say my 401k and my possible inheritance when mom passes away (may that be a long time from now), it will eventually either fix itself, or go back to the 1933 regs that prevented this from happening. This "bailout" will not fix regular mortgages, unless congress is planning on paying all the "toxic" mortgages off for homeowners. No kids, this is welfare for the rich. And it leaves a taste like sour buttermilk in my mouth.
And what I find most amusing is that it's the congressional leaders of both parties fighting for the bill and the rank and file of both parties fighting against it.