Tuesday, September 23, 2008

Bad Choices, Bailouts and my thoughts for what they're worth

So, here we are bailing out these mega financial companies because of poor decisions and practices. So, my thoughts are this; if it's a necessary and prudent choice to do so for the good of the country and the economy, then should it not be equally as necessary to forgive the common folk their poor choices and judgment and bail them out as well? I mean, you know, for the good of the country and the economy?

It seems the little people who made poor choices in home loans are living the consequences of their mistakes. So, perhaps we should let the big guys do the same. I really don't know nor do I have the answers but these are questions that take up space in my brain.

Congress will likely approve the 700 billion dollar (plus) financial rescue plan. If so, how about just giving the people a leg up...like a place to live by giving their homes back to them? Now there's a rescue plan that just might restore a little more faith in the American way. With all the money being spent on bailouts and war, why not? Call me idealistic, but I tend to believe that if something doesn't work for everyone then it really doesn't work. Just my thoughts at the moment.

From telegraph.co.uk - Homeless encampments dubbed "tent cities" are springing up across the US, partly in response to soaring numbers of home repossessions, the credit crunch and rising unemployment, according to a report.

11 comments:

  1. There has been a lot of buzz about this very thing. I don't know enough to know if the big bailouts are truly something that is going to benefit most of us, but I doubt it. Can't help but wonder, "What's in it for me?" Times like this, I wonder how much congress people are *really* representing their constituents.

    ReplyDelete
  2. CM - Yes, it does make one wonder. I don't much about it either except that it distresses me to see my fellow citizens living a third world existence. However I do know one thing that's in it for all good citizens...one way or another we'll get to pay the bill.

    ReplyDelete
  3. Thank you for your kind comments to me.
    Blessings to you.

    ReplyDelete
  4. There were tent camps all over Washington. I worried about them constantly because it was cold and wet most of the year.

    Nothing much was ever said abut them on the news or public tv. It was like they just didn't exist.

    Excellent post! I wish I knew more about all of this. One thing I do know is that EVERYONE in power knew that these companies were writing bad loans and NOTHING was done to stop them. That was incredibly wrong.

    Blessings!
    Lacy

    ReplyDelete
  5. Very well stated Earth Heart! Hear ye! Hear ye! Can I write you in come Nov??

    ReplyDelete
  6. It's sad we're giving money to criminals both in congress and the corporate world.

    I did video work on political movies for five years and I give you my word that the media is more about processing lies than reporting the truth.

    The video I shot and the news they reported were two different things.

    ReplyDelete
  7. I couldn't agree with you more. Chances are the bail out will happen. Fear will be the catalyst. For the elite it is fear that a golden parachute will not open in time to to save them. For the commoner it is a fear of the unknown....that things will be worse if the bail out does not happen. This is fed to us put by the media and the current political administration. And yet, perhaps those of us who live with few to no frills have the least to fear. We are adaptable and mindful and realize that we would rather sacrfifice for the greater good than for the windfalls that will most certainly line the pockets of those begging for the bail out. Heaven forbid they may have to face reality. Heaven help the folks whose reality is homelessness.

    ReplyDelete
  8. Yes, and who is the president going to for guidance? The very ones who advised him BEFORE this disaster! Who will benefit? The financial guys, who, according to NPR, are lining up to grab their share of the bailout money. There was a mention that some might go buy up bad international debt caused by this mess so that they can make money on it too! Go figure. EarthHeart, I think there are millions of us in agreement with you.

    I'm not a vindictive person normally, but I would like to see those bankers lose their homes, cards, 401Ks, and all other assets as is happening to ordinary people everywhere. Yes, those who took out big mortgages they couldn't pay back made a bad mistake, but they're paying for it because they're losing things. What will the Wall Street guys lose? probably nothing. Life will continue exactly the same, except that it will be our dollars funding their excesses.

    My oldest son is a banker at a small bank that makes conservative loans. They're not in trouble, except it's not more expensive for them to borrow money to lend to consumers. Small-town bankers don't play these big-stake games.

    Greed motivated this mess; greed is now in line trying to benefit from the fall-out.

    ReplyDelete
  9. I think Granny Sue makes a great point. I'm not vindictive by nature but my goodness -- those CEOs and whatnot were just plain greedy.

    They knew exactly what they were doing. I think that they committed a form of fraud. They should not be rewarded with hefty settlements.

    Blessings!
    Lacy

    ReplyDelete
  10. Here here!! Great responses guys!

    Robert - Sad indeed. I believe and agree with what you have testified to. I believe we're only told what those in high places want us to know or believe. That is why the internet is such a threat and access "needs" to be censored, tracked and/or limited...because if you seek it, often the truth is out there. You just won't find it from mainstream news sources.

    Susan - I think we who live simple and more self sustainably absolutely have the least to fear. I think those most affected either way it goes will be the ones primarily being affected now.

    Cowboy's Wife - Sure, write me in, lol!!

    Granny Sue and Lacy - I couldn't agree more with what you've stated. It is all about greed and nothing else, it was wrong and yes, I do believe they should be held accountable and liable for the damage they have created...everyone of them right up to the White House if need be.

    ReplyDelete

I sure appreciate your taking the time to share your thoughts. I may not always have time to respond or acknowledge them but I do read them all and highly value your presence here.

ShareThis