So, that's a first - I'm agreeing with Newt. In his interview with NPR he pointed out that these captains of the free market have some sort of nerve asking for handouts, not only because a buyout plan is against all the free market principles they have trumpeted whenever someone has tried to regulate their activities; but also because some of these captains have been walking away with salaries in the millions over the past few years.
Hello? That's a nice chunk of change. And maybe they should invest some of it in their own companies, don't ya think? I mean, before asking us to chip in?
Newt also wants to know why we are planning to buy their assets (if that is indeed the proper word for investments that seem to be going belly-up) at above-market-value prices. Why, indeed? Can you say "corporate welfare"?
Newt believes that, by approving this bailout, we would be buying a short-term fix with grave long-term consequences, and that it would be better to let the chips fall where they may now rather than face bigger problems down the road. I would like to add that some of that money slated for the bailout plan could go to help the people suffering most in the short term from the consequences of this gross betrayal of civic responsibility. And those people would not be the ones working at these companies.
Although I would be willing to give them tuition money to take some basic math and economics courses. Ethics, too - that might be helpful.
You know, this post of mine from July? It was prescient. Only, it's not funny anymore.
Okay, if you have read this far, you must really care about this subject. (Or else, you just have nothing else to do.) How about taking some action? It's simple. Go to this website, type in your zip code, click on your representative's name, and send him/her an e-mail. (Oh, and send one to Nancy Pelosi, also.)
Not sure what to write? Feel free to use one of these:
- "Make 'em pay!"
- "No money until we see some heads roll...lotsa heads..."
- "700 billion dollars? You're joking, right? You've got to be joking."
- "Why are we throwing good money after bad?"
- "Just Say No to enabling greed and mismanagement on Wall Street."
- "No blank checks for Wall Street - these people obviously need some oversight."
- "Stop stealing my money!"
And spread the word...
[Added note: I fixed the link to the website that allows you to contact your congressperson. Go! Do it! Now!]