With so much todo about the impending bailout of some major financial institutions to the tune of 700 BILLION dollars, you’d think that President Bush and Treasury Secretary Henry Paulson could arrange a few billion for the millions of Americans who have lost their manufacturing jobs because of “globalization” (which I believe is just a shorter term for “Big Business Increasing Their Bottom Line By Shedding Higher Paid Workers”) or the others who are about to lose their homes perhaps because of investing in what should have been SECURE blue chip stocks,  or just because of the downturn in the economy.

No. In the interests of making it a “CLEAN” bill for Congress to pass quickly, Bush and Paulson have ignored the Democrat’s call for some assistance for “Middle Class Americans” and this is what bothers me the most about this shortsighted bill.

Ok, I’ll first admit it, I’m a Canadian. Period. But I’m also a FREE thinker, and it’s the responsibility of any right minded thinker to speak out on injustice when they see it, and this in my mind qualifies. Let me explain why I’m butting in.

Sure, I understand how propping up these institutions prevents the domino effect that will inevitably occur, and in the end who REALLY stands to lose? The average American who will undoubtedly face severe hardship as interest rates soar, and property values decline. Where businesses can’t afford loans to fund operations and more people end up on the unemployment rolls. And where all those millions who live just on the edge of homelessness and privation will just tip right over that edge and fall into the abyss.

First if I were an American taxpayer (who will be the ultimate source of this massive BAILOUT) I’d be asking some VERY hard questions about just HOW this all happened?
These bad loans..they can’t ALL be to delinquent home mortgages the majority of which would likely be but a drop in the bucket of this bottomless well of bad debt.
So where did it all go, and how did it happen? What rules did these mortgage brokers bend to get business loans for their clients (which I’m POSITIVE form the vast majority of the bad debt that created this problem).
I doubt very much if those questions will ever be truthfully answered, in fact if ANY of these “Executives” end up in front of any investigative body their answer will either be “I don’t remember” or they’ll take the fifth amendment.

And the REALLY sad thing about all this BAILOUT money, this 700 BILLION dollars, how much of this do you think will end up in the very hands who created the mess in the first place? Well. ALL OF IT!! DUH!

Let’s see now. Looking beyond the “veil” I predict some hefty severance packages being handed out as many of those responsible are “moved” into consulting positions and out of the limelight. I can see some major bonuses given to those who did so good in lobbying the Government into making this BAILOUT possible, and I see Businesses who managed to get all that easy cash getting away scott free, and the Taxpayer left holding the bag!

In closing I just want to say that this Financial Sector “shake-up” has actually become history’s largest “shake-down”!