Bailout! Bailout!....Can I get a piece o' that cake?

BLAM!!!

Just like that the government is proposing a plan to spend $700 billion dollars to buy bad debts from failing banks. But we're not talking about regular banks like BofA or Bank of the West or Wells Fargo. Nah, where talking about the MEGA banks, the ones that most of us never even heard of like Goldman Sachs Group, American International Group aka AIG, and Merrill Lynch. The banks that own the banks we know. Banks that apparently support a large part of the American economy. These are the banks that, up 'till now, the rest of the world looked up to. Now these pieces of shit banks are falling apart and we gotta pick up the bill? The tax payers gotta front the money in terms of increased taxes on something somewhere, we don't know what just yet. Some say the cost of this bailout to us is estimated to be $2,300 dollars for every American man, woman and child. And we don't even get a say in it? WHAT?! How does that work? We didn't even spend that much on the Iraq war (est. $550 Billion, which many of us didn't want, and oh yeah, we had no say in that either!) Anyway, how does that work? And can I get a piece o' that? If I miss my mortgage payment can the government front me five grand real quick? If my Mama can't make her car payment can she get some free cake too? No, why? Oh, cause neither my mom nor myself are mega-rich. So you gotta be rich to get free money, oh...well that makes sense.

They say that this bailout is completely necessary because otherwise the American economy could completely collapse. At least that's the real talk according to Bush, the same dude that said, "There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again." and "I know how hard it is for you to put food on your family". So yeah, a man of that intelligence, I believe him. The reality is, almost every American's paycheck is at stake if we don't bail these fools out. But here's the thing, why weren't these mega banks being looked over in the first place? For example, Merrill Lynch paid their boss John Thain $15 mill to join the company last year. Goldman Sachs paid their boss Lloyd Blankfein $54 mill a year ago. AIG paid their boss Martin Sullivan $14 mill last year and they were approved for a federal bailout of $85 bill two weeks ago. Funny, it seems that maybe if these CEOs weren't spending so much time getting iced out, then maybe their companies wouldn't be in such a mess. But the part that really bothers me is the rhetoric. The spin that corporate America gets in it's favor regardless of what's goin' down. When times are good, it's all about how brilliant these CEOs are. How hard they've worked and how they've turned companies around from definite peril. When times are really really bad they need our help to buy back bad loans. But wait, who made these loans? And who signed off on millions and millions of dollars worth of loans to people who really couldn't afford the responsibility. Who signed off on these outrageous extensions of credit? There are reports stating that some credit companies, like MBNA, basically forced it's employees to push customers deeper into debt. Can you believe that? And the amount of money these cats made off these loans is ridiculous and now we, the taxpayers, are suppose to feel sorry these dudes when their bad financial decisions blow up in their faces. Especially when they well knew the risk, more intimately than any average homeowner owner looking for a better home or some extra cash. What's their punishment? A million dollar pension package, maybe? I mean, man! It's just sick on so many levels.

So what can WE do and what should WE do to make sure the government knows we won't take this lying down. This is bullshit, we work so long and so hard for our little bit o' money, we deserve better! WE are Better!

SOURCES:
Bailout faces delays as Fed pumps cash
http://news.yahoo.com/s/nm/20080923/ts_nm/us_financial_news_6

Credit card insiders tell of deceptive practices
http://news.yahoo.com/s/nm/20080924/us_nm/us_usa_economy_creditcards