Saturday, September 27, 2008

Bailout??

I wonder what has happened to our Constitution.

When did we start letting Congress take from the poor and give to the rich?

Up until recently they were taking from the rich and giving to the poor.

I think their definition of "rich" was anyone at or above the poverty line.

I think that most of the members Congress have decided that they get their cut first.

Companies used to fail depending on their business models. Remember Montgomery Ward's or maybe Enron?

Many banks have failed in our history ... Panics happened on a regular basis before the Great Depression, but my history book shows none since (except maybe the Keating 5 thing) ... until now.

The bank failures don't really effect me. I still pay my mortgage and credit card bills. I pay my car payments. With checks written on a bank that still receives my direct deposit.

I think if this bank/credit meltdown had happened next year or in 2005, Congress would have called for more regulation, had a hearing or two and gone back to business as usual.

What a difference an election makes.