In today's Washington Post (the only paper I'm reading these days), many articles were written in criticism of the bail outs. Are we being chumped? one asks. Another uses a great quote at the end, about how these corporations are taking the bail outs and then having lavish parties to celebrate. The quote was from a rep, I believe Democrat, who said it's like watching people go to the soup kitchen in top hat and tails, with their hands out.
What I'm still wondering, is why we've all decided to call these hand outs "bail outs". Why don't we call a spade a spade and start using the same vocab we use for middle and lower America "bail outs": welfare. it's not a bail out plan. It's a welfare plan.
These corporations are getting welfare through the "Troubled Assets Relief Program" and they don't have to go through "services", random UAs, and random drug checks either! and we all know half of the brokers making high risk gambles for the banks, are using cocaine on the floor.
Representatives are calling the initial bail out, the "largest bait-and-switch scheme that history has ever seen." (Ackerman)
Paulson said it was to pull people out of mortgage foreclosure, but the money was used for something else.
You know what I want? I want trickle up, not trickle down at this point. And I'm not jealous or selfish either, and I don't believe most Americans are.
If a large portion of America gets emergency loans, and I'm not a part of it, that's okay with me. But I would rather see middle class and very poor Americans receiving emergency loans, than these corporations. I don't have to see one penny of the money myself. I already know how to barely get by, and I have "learned to be content" (as Paul the apostle says) no matter what the circumstances are. I want someone or some group to help me and my son, and others who are caught in the system, but I also am happy with seeing money go into other people's hands who need it, who I know will have a harder time dealing with poverty or change in finances than me.
When I gave that homeless man $3 for a pair of gloves, he turned around and gave me a $2 tip the next time.
Some of the most generous people, are those who know what it's like to go through tough times, and these are the people who can be COUNTED on to give back, and when they give back, it will trickle up. When I get a $2 tip from a homeless guy, I then either have $2 more to spend at a restaurant which will then spend more, or I can tip the next person better, and give them confidence to spend more.
I'm not saying there are not rich people who make contributions. But it's the difference between the guy, from the parable in the Bible, who makes a big show of dumping some money into the coffer (his 10%) and then the poor widow's mite, who gave almost all she had. It's the difference between Jesus being invited to dinner by a rich woman, and the gift of Mary Magdalene, to use expensive oil to annoint his feet. She was criticized for not selling the perfume to give the proceeds to the poor, but Jesus was also poor. She was still giving from what she had.
Whether it's equal distribution, at this point, or simply giving to a large random group of people, I think for once we could experiment with trickle up.
The people who deserve the loans are not the ones guilty of fraud and mismanagement but those who lost through no fault of their own.
I do think there is a difference, though, between someone losing their house because they overshot what they make and were greedy themselves, and those who are losing their house when they made a wise buy and loan, but found themselves without a job or means to support what was thought to be a stable income.
One rep, Maxine Waters (D-Calif) has personally helped 26 people refinance their loans.
There was derision over a group of plumbers who asked for money from the bail out proceeds. Why do we scoff at plumbers, who had no part in the mess, but approve the money going to people who DID get us INTO this mess? why? because plumbers and plumbing sounds so...low level or insignificant or lower class and makes us all think about toilets and waste? because bankers get a better notch on the ladder, out of prestige? Those fuckers screwed it up for everyone.
Instead of auto makers asking for $25 billion for bail outs, claiming it will affect 5 million people "tied to the industry" and then announcing they had "240,000 employees", why don't we give the emergency loans to the people it's affecting? And how do you get 5 million people "tied to the industry" from "240,000 employees". What? are they counting on all the insurance guys that rely on their money, and all their high priced lawyers which rely on their business? and tax accountants, and brokers?
Instead of giving $25 billion to the corporation, I would tell them to file for bankruptcy and start over if they need to, or examine a new line of industry, and I would give $25 billion divided by 240,000 employees to the 240,000 employees who would be laid off. That would amount to a personal "emergency loan" for each employee, to the tune of close to $100,000 each. Then those workers can keep their houses and go on to work for competitors or in another aspect of transportation or mechanics.
I would be happier, as an American, seeing this money go directly into the hands of my fellow Americans rather than corporations, even if I don't see one penny of that money myself.
I say we take 1 trillion in "bail outs" and give it to the people and allow the corporations to file for bankruptcy if they need to. This money should be allocated to the very poor working class who is affected, and the middle class, and also to those who are upper income but will lose their jobs. But the upper income players don't get more than the middle or lower income. Their jobs are not more important, and this is something that affects everybody.
People will give back.
People gave $2 donations to Obama because they had faith he wasn't just working for big corporations and special interests. So they were motivated. That's what motivates lower and middle class Americans, at least at this point. We've seen enough of corporate excess and fraud and greed and priviledge, and it's time those who are KEPT at the bottom, with the policies of these same corporations and their lawyers, have a chance to rise to the top.
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