03 October 2008

This is a sham.

(Originally posted 9/23/08.)
This bail out is a sham folks.  The boy who cried wolf is telling us the sky is falling.  Maybe the sky is falling but 700 billion to re-build the sky over Wall street in the hopes that people who should not have taken or given the loans that got us in this mess will have confidence to take more loans is a joke.   This is empowering fools to gamble on our dollar in hopes of covering their bad gambling debt.  They want to tell us that it is about saving homes from foreclosure.  700 billion would pay for a lot of homes.  Paid in full.  
I'm no expert but I've been right about every hunch I've had about these goons since 2000.  If you think the whole thing is confusing you are not alone.  I've watched enough of the hearings to realize no one understands this thing.  The legislators are asking the same questions I have.  If Bush's bogeyman speech has you scared then call your lenders.  Ask them.  Is my mortgage safe?  Are my loans safe?  The FDIC is still in business folks.  If you have not been gambling on Wall street or investment banking then you may just be A-Okay.  If you have been gambling on Wall street or Investment banking then yeah, you might have some risk but hey, you knew it was gambling right?  
This bail out will not prevent a crash.  This bail out only helps the rich goons pad their pockets before the money is gone and we the taxpayers get left holding the bill.  We the taxpayers owe Wall street nothing.  We owe the stockholders nothing.  It is gambling.  It has always been a gamble.  We do not owe it insurance or protection or a bail out.  Our government backs up home loans and commercial loans.  If we need a new bill to help out legitimate mortgage lenders and homeowners then they should get to work on that bill.  Not one penny for investment banking.  Not one penny for Wall street.  Not one penny for gamblers.  The bluff has been called.  
We are not on the brink of a crisis.  We are on the brink of a golden opportunity to free ourselves from the whims of the greedy rich who have asked us to mortgage our future so that they may live like gods.  Shore up legitimate mortgage banking and help pay off the home loans.   Not one penny for investment banking.  Not one penny for Wall street.  Not one penny for gamblers.
Let it crash.  Let it burn. 

I've emailed my senators and representatives.  You might consider taking a moment to share your own thought with yours.  It's pretty easy.  These links should help you find them.  Senate.  House.    

Your best pal ever,
Shannon Smith

UPDATE 10/3/08

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