Why Congress Is Failing America

I was listening today to the news and heard a man on the street come up with a brilliant idea. Set aside the hundreds of billions for the banks but funnel it though mortgage payments instead of a handout.

So here is how it should work. Congress authorizes the money and home owners can have up to a pre-determined amount wired to their lending institution for a first or second loan on a home. The banks get their bail-out money via a payment on a home loan and the homeowner is relieved of some debt and everybody wins. This is so much better than just handing them the money or worse the government owning part of a private company.

I have a few things to say:

The fact is our political system has been infiltrated by corruption at the hands of special interest and big business, and the corruption runs deep in BOTH parties.

Simple supply and demand can explain the genesis of our current state of affairs. In short, income has not kept pace with our US productivity, therefore we have more supply in this country than we can afford to consume (again due to wages that have not kept pace with our productivity). This imbalance in supply and demand gave rise to the use of credit/debt to finance goods that we should be able to purchase with cold hard cash. This leads me back to corruption of the US political system - big business has convinced us that the key to strong business is keeping wages low, and they pay into the political system (BOTH parties) to buy their influence. Instead of paying people a fair wage, big business redistribute wealth to shareholders.

So, the Republicans are wealth redsitrubtionist to the rich, and the Dems are wealth redistributionists to the poor, and the middle class, who make this country work, continue to get f'd. We are getting screwed on the payroll end, and screwed on the taxation end, and I and many like me, have had enough.

I believe that this proposed bill, no matter "how" much is allocated to a bailout is blasphemous and will simply buy us time rather than fix the problem, and I find it incredulous that our congressman and women such as Nancy Pelosi can stand before camera and state that this bailout protects the taxpayer.

Nancy - This mess, and the proposed bill, SCREWS the taxpayer yet again. Further, I find it amusing that "protection" of the taxpayer is only germaine to you when the bailout is directed at business, yet you could give a rats butt about the taxpayer when you want us to fund social services or buy those who cannot afford it, a home.

ah, but I digress...

I honestly find these posts fascinatng. And an interesting contrast on readership. From the same MSNBC website, I read an article about the bailout crisis authored by Buiness Week.. Of the 210 comments posted, nearly all of them were well thought out and raised some intersting points.

By contrast, the posts to this article, authored by Newsweek, are pretty lame. They either indulge in a lot of name calling, overly political and, in general, add very little useful information to the discussion. Not all of the posts, to be sure, but enough of them.

Since both links came from the MSNBC web site, the initial audience was the same in both cases. I wonder what this says about the people who read the different publications.

It's so easy to write to them in this day and age. Simple google, "XX (your state's initials) senators" and "xx (your state's initials) representatives" and find on their page how to contact. DO IT NOW...I'm a small business man and I AM NOT PAYING FOR THIS BS PLAN...SO HELP ME GOD!!! SIncerely, Chuck Danas, NY

WRITE YOUR CONGRESSPESRON RIGHT NOW!. Tell them that if they approve this BAIL OUT that you will vote them out of office in the next election. I don't care that it's 5:38 on Friday night. They're working all weekend. DO IT NOW. DON"T LET THIS HAPPEN...there are other solutions. Sincerely, Chuck Danas, NY

WRITE YOUR CONGRESSPESRON RIGHT NOW!. Tell them that if they approve this BAIL OUT that you will vote them out of office in the next election. I don't care that it's 5:38 on Friday night. They're working all weekend. DO IT NOW. DON"T LET THIS HAPPEN...there are other solutions. Sincerely, Chuck Danas, NY

Politicians beware. The vast majority of Americans are opposed to this bail-out plan, and their polling-place wrath can be mighty. This just might be the straw that breaks the camels back and causes wide-spread replacement of Washington politicos.

Couldn't disagree with Daniel Gross more. I'm all for the republican rebels who are holding things up. It's about time someone in this government behaved maturely.

Well, Daniel Gross is certainly entitled to his opinion - for what it's worth. I'm delighted that Republican rebels are holding up the process. Those "brilliant bankers", inside and outside the Fed, got us in this mess and I have no faith in their soultions to get us out; just more money supply growth and inflation, while the taxpayer picks up the tab. Whenever a politician tells me we have to enact a major spending program NOW, it's time to slow down and take a hard look. The Administration's just been part of the problem, so it's no surprise to me that Republican Congressmen are thumbing their noses at the President. Those Congressional leaders who are in such a hurry have been part of the problem too. You Republican Congressmen just keep asking questions. it's about time someone did! If I was in their shoes, I'd be doing the same thing! Let the markets emit a primal scream. We don't have free markets anyway. The government and the Fed have seen to that.

Congress has not failed America. Congress is doing what they should do and that is making sure there is no other way to get this is right than pour 700 billion, and it will be more before this mess cleaned up, into something that there is no guarantee that it will fix the problem. Congress is demanding better answers and so are the "American people". Had not the Demarcates backed Clinton on deregulation of Banking when he was in office, this would not have happened. Too much power in too few hands, that is what cased this mess!
Like OBAMA can say he is going to still cut taxes! Cut whose taxes? The CEO that RAPED the common man and woman. Their money is sitting in a bank in Switzerland, while they lay on some beach someplace laughing!!

I'm with the House Republicans; this $700,000,000,000 deal stinks. There is no reason why legislators should be rushed into this thing; it's too big. Make the deal similar to the AIG rescue; give the government equity in the investment banks and insurance companies that need to be saved; let the rest fail. Just buying up bad debts at inflated prices merely sticks the government and the taxpayers with the dirty end of the stick.

I think we need to abolish the two party system. What possible benefit do we gain from this endless ideological gridlock?

The sad fact is Politicans and Wall Street have failed the citizens of America. Greed, selfishness , and power have become the norm. Hard working Americans have no confidence in our political leaders, we need our Congress to step up and preform the jobs they were voted in office to do. If Congress cannot or will not get past the Political Bull then they need to Resign and go Home!!

Hang in House GOP do not vote for this monstrosity. Thinik about the taxpayer for once. We do't want to bail out idiots who bought houses they couldn't afford or Wall Streeters who caused this mess. If you can't afford to pay for something you don't buy it. Bush, Bernanke, Paulson, Reid, Frank and Pelosi should resign. The CEO's that caused this should go to prison for fraud or be banned from any involvement in Wall Street.