Well, it's old news by now, but I've been stewing over it for a week, so here goes:
Congress passed the bailout bill last Friday, and tore another chunk out of my faith in our lawmakers (which wasn't too strong to begin with). Even both presidential candidates stood by it.
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/03/AR2008100301108.html?hpid=topnews&sid=ST2008100400028&s_pos=
Time has only made me hate this bailout even more. Whereas before, I merely thought it was absolute insanity, I now utterly loathe this bailout. Watching Tuesday's debate, as Obama denounced McCain's tax plans as favoring the rich, I realized the whole notion of "taxing the rich" is just nothing but thinly veiled hypocrisy. The bailout is proof of that.
Millions of dollars are being taken from taxpayers, average joe, you-and-me, people who really are poor, to be given to these financial companies. No, it's not enough that they overcharge us as consumers, treat us like dirt as employees, and are just swimming in cash; to put the icing on the cake, the government has taken yet more money and just handed it to some of the richest people in America: CEOs, and boards of directors.
The government has just taxed from the poor to give to the rich.
As for the proof of that, just look what these executives are doing with their bailout money:
http://www.foxbusiness.com/story/markets/industries/finance/aig-executives-blow--getting-bailout/
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