Let me get this straight: government regulation is bad. But humongous bailouts and mind-boggling loans are OK. I really am trying to understand.
So if I’ve got this right…you, me, and every other American taxpayer now own A.I.G, because “we” lent it 85-BILLION DOLLARS to survive. And the stock still stunk like a skunk. (The company slogan: “The strength to be there.” Now THAT’S rich.)
And General Motors celebrated its 100th anniversary by joining Ford in asking Congress for 25-BILLION DOLLARS in loans. (Super! I already own a piece of G.M. And parts of it are falling apart after 4 years, but hey, it’s paid for.)
My place in Provence
So listen, I’m a pathetic loser who can’t manage my way out of a paper bag. So why don’t you bail me out to the tune of, oh, 25-30 million dollars? I’ll build myself a better life in…ummm…the south of France. I already have my eye on a nice little place. You may not see the money again, and you sure as hell won’t see me again. Ever.
Deal?
Since when did business failure deserve a reward? Let the consequences happen as they may to these big businesses.
Why is it that our nation’s leaders are allocating our tax dollars to a non-governmental entity to bailout a company most of us could care less about? Since when does failure to operate a business properly merit the pity and hard-earned dollars of American citizens? I know of hundreds of business owners who have made mistakes in running their business; and not only does no one come to their aid one iota, but because they are self-employed business owners, even in a crisis they are unable to get access to simple financial benefits such as food stamps or Medicaid when necessary! The irony is that small and medium sized businesses contribute the largest portion of tax dollars to these programs than even large corporations – yes more than Merrill Lynch and AIG put together! Do we simply discount or forget that these struggling businesses may have had a wonderful 5 year run previously in which they contributed to the economy by providing honest jobs to dozens of employees, tax dollars, vendor service dollars, etc?
$85 billion for AIG, and more than $1 Trillion for a hopeless debacle in Iraq, but we still can’t figure out how to make basic health care available and affordable to over 40 million Americans or ensure the safety of a large American city (first New Orleans, now Galveston). Golden parachutes for these failing executives at $10 million apiece (and more in some cases.) Billions of dollars unaccounted for in “war spending” or granted in no-bid contracts to Cheney’s pals at Halliburton and Blackwater. Our government does not care about us, and we’ve let them get away with it. We are pathetic.
Thank you both for your intelligent contributions.