Sunday, September 21, 2008

Nice spin by the Treasury Secretary...

I find it ironic that Treasury Secretary comes out today and says:

"Taxpayers should be protected. This should not be a handout to Wall Street. It should be structured in a way that maximizes the ability of taxpayers to recoup their investment."

Whoa whoa whoa whoa WHOA!

The American tax payer isn't INTERESTED in "INVESTMENT" in the incredible debacle on Wall Street. I'm absolutely appalled that Paulson could have the nerve to call this an "investment" for the American taxpayer. That notion implies that all of us somehow WANTED to bail out Wall Street as opposed to being told we ARE going to bail out Wall Street to keep the market from collapsing.

That's not an "investment" -- they call that a LOAN.

The only thing is: you and I will never see any "dividends" from our "investment"... hell, we'll be lucky if that money even gets re-paid to us.

So that's why I think Obama is right here: if we're going to bail out Wall Street -- then it's time to also bail out Main Street. Bush and McCain seem comfortable letting CEOs and Big Oil score incredible profits -- hand over fist ... but when they screw up, then it's up to the American taxpayer to bail THEM out when they spent foolishly and made incredibly poor business decisions.

I don't want to see the market crash and all of us suffer -- but I'm not satisfied how the American taxpayer is going to be able to "cash in" after Paulson's comment. Let's see what the flip-flopper has to say about this....

No comments:

Post a Comment