It must have come to a terrible shock to Wall St. that we, the American people, did not simply lay back and let them screw us again. Now that we said no to corporate welfare, they are starting to get cute and they are trying to bribe us. Okay. Let them bribe us. I mean if we are going to get screwed, let’s make them give us flowers and dinner first. But really, they are going to have to do much better than this.
“The Senate pushed toward passage Wednesday of a $700 billion financial industry bailout, and opposition to the package among House Republican conservatives appeared to be softening as well, thanks partly to a provision to increase insurance for people’s deposits.”
Hey this is great. The FDIC hasn’t raised its limit in over 60 years. Many people have much more that one hundred grand riding in the banks. So let’s raise the amount to, a million maybe? If it takes a million to retire decently, then maybe we should demand that Congress raise the FDIC limits to a million. So I urge you to call your Representative and Senator and tell them that yes, we want to raise the FDIC limit to a million dollars. Also add that if they vote for the new bail out too, their jobs are off the table. The FDIC is covered by a private insurance company. Lloyd’s of London, last I heard. It is not going to cost Congress anything to raise that limit. We, the depositors, end up paying for FDIC insurance through interest that never reaches our bank accounts. So let them work harder for their welfare money. Let’s make the bail-out corporate workfare instead.
“The revised package to be voted on in the Senate also would add $100 billion in tax breaks for businesses and the middle class besides temporarily increasing the deposit insurance cap from the current $100,000 to $250,000. Meanwhile, the Securities and Exchange Commission has said it is easing the accounting rules in some cases.”
Once again, 250K just doesn’t cut it. We want a million, and why the hell should we be giving business a tax cut along with 700 billion dollars in welfare? Come on, America. Call your Senator and your Representative and say, “we want you to triple corporate taxes, and we want another individual tax cut, and please raise the FDIC limit to a million dollars. Oh, and by the way, if you give that 100 billion dollars away, you will lose your job.”
While we’re at it, why don’t we put some limitations on this money. Why should we give these idiots $700 billion dollars to spend on junk bonds? No, if we are going to give them $700 billion dollars, let’s make sure that they do some good with it. Let’s have them use it to update their hiring practices and limit it to investments right here in the U.S of A. Let’s have them put it into industries right here and jobs right here. We don’t want this money sent to China. China has enough of our jobs and our money as it is.
No more business as usual. No more of this nonsense. We, the voters, are the people in charge. We, the voters, are the people who are fronting this money. We, the voters, should have the last say. Remember to call or email your Senator and your Congressional Rep. ASAP. Make sure you give them your name and your address as it appears on your voter’s registration so they know you are a registered voter. Let’s not keep America in the hands of these idiots. Don’t let the media pundits scare you. If you want change, say no to the bail out.
In the “is my face red” department, I made a mistake and said that “Skull and Bones was a Harvard club.
Actually Skull and Bones is a Yale club. My mistake. I want to thank Abraxas Apocolypsis for pointing it out so that I could correct it.