The majority of Americans don’t want the bailout which is why it didn’t pass. Now, the fearmongering has been ratcheted up in order to make the public understand that we absolutely, positively have to do a bailout. Why?
What disturbs me most about this process are two things:
1. Why weren’t other alternatives put on the table to discuss? Why did we go full-steam ahead with just Paulson’s bailout strategy? Last night, billionaire Steve Wynn was on television saying that he and other businesspeople are against the bailout. They believe there’s another solution that will not cost us as much. So why haven’t we been able to consider these? Why only one solution?
2. Also, why hasn’t there been any discussion about investigating the cause of this catastrophe? Have you noticed that no one has talked about finding out who is responsible? Why? I tend to agree with the suppositions that this all started with Fannie Mae and Freddie Mac. If so, you can understand why Obama, Pelosi, Reid, Frank and Dodd don’t want one because it would hurt their party. But isn’t country supposed to be first? Don’t we want to avoid this happening again?
