Let me tell you what I learned this morning on NBC at 7:30 am with Matt Lowry. They had a specialist there who analyzes political stuff like the bail out and political games. Matt asked him if Senator McCane was playing a game here or is he serious about putting the country ahead of his campain? I was shocked by the answer.
I've been saying for years that I worry about the economy not being stable and that political careers would be more important than the needs of the people they represent. Now I see these things playing out and it worries me, in other words, I hate being right in this case.
The analyst said that if the Republicans cannot get together with the Democrats and get this problem resolved, that the Republicans will look like a deal breaker. In that case, McCane will shoulder the blame. I has no choice but to go and try to rally the Republicans into working this out. SO I see why McCane had the need to go back to Washington because this whole thing can blow up in his face. However, the real shock came in what he said next. He said the President had to do what he did because we could be in a depression on Monday if something doesn't get done by the weekend or sooner.
Let me explain for those who haven't been able to follow this like I have today. If we allow those who caused the problem to pay for their crime and not bail them out, which the analyst was quick to point out that this is really not a bailout in the normal sense of the word, and if we allow those companies in jeopardy to fail, that it will send a ripple throughout all of the financial market place. Panic will set in and their will be a crash bigger and worse than we saw in the first depression. This is VERY serious stuff we are talking about.
Now tonight, Bill O'Reily had Strosell discussed the bail out and that Washington is unable to come to an agreement. The point was made that 4 presidents have allowed foreign money to come in and invest in our country. I've heard this for the last three years and I am concerned about the power foreign countries now have over our nation. If President Bush doesn't do something drastic now to keep the trouble companies from collapsing, foreign investors will take their money and run, forcing this country into the worst depression ever imagined before. Remember your history and how people suffered during that time. People had no jobs, no food to feed their families, no income (if they worked, it was for cents), and fathers commited suicide because they could not feed their families.
So the bottom line here now is NOT taking political sides or one party or person to blame. This has been going on for 4 decades, where most in WASHINGTON knew bad paper was being sold to investors and yet nothing was said. Not one opened their mouth to warn the people to not invest in this worthless paper. IN fact, as Strossel said, they were actually encouraged to invest in those risky deals.
So I ask you ALL to please take this issue seriously. Don't grandstand on principles, the quilty have to take it on the chin and let the mallot fall where it will, because if we do, this country will SURELY go into panic and then you know the rest of the story. Time for action and no more politics. This bailout may not be what we want but it is the only thing we can do at this point. Something should have been done long ago, but it's too late now and that puts us in a bad situation that has to be taken care of in a way no one wants. Please put pressure on Congress to get this thing done ASAP! Remember that the goal is to do whatever must be done to save the financial institution so that everyday Americans (who are almost innocent in this situation) do not have to suffer from the greed of politicians and other greedy people. Thanks for reading my message.
Copyright © 2008, Judith Sherman.
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