Oct 2

Written by: Bill Falzett
10/2/2008 10:44 AM

Appeal-Democrat headline says: "Herger supports bailout despite district opposition". The Woodland paper quotes Herger: "the plan needs to include better oversight... and fix flaws in an outdated regulation system". Wally wants it both ways. Wally doesn't really stay tuned into his constituents except for those few privileged subsidy recipients.

What ever happened to being a representative of and for the people. These two quotes show how Herger is obedient to and compliant with the Bush-Cheney administration. He has no sense of the integrity required to stay with his constituents. The Bush-Cheney-Herger economics plan has failed miserably. It failed because of relaxed regulation that encouraged corruption and deviation from solid practices that should be open and aboveboard.

This bailout can be solved in ways that benefit people all over the country by some rather simple, straightforward steps: transparency in the market transactions; equity shares if we do actually give the banks & markets any money; transparent accounting for the above; stock transfer fees that would help Wall Street bail themselves out in addition to curbing market speculation that inflates our costs in all segments of the economy; and restructuring of the faulty loans that would infuse money into the system from the bottom up --- to name but a few.

Many economists say the bailout is a temporary step as currently structured that will lead to more dire consequences. We should all hope that the House stays strong against it. Make some noise about this nonsense to your representatives and senators. They have failed us again with a plan that will see us as slaves to the fat cats if the House goes along with the Senate.

If we insist on Wall Street bailing themselves out of their mess and giving us fair value for our help in assisting then we are stakeholders and shareholders. Surely you free market folks can support this position.

Copyright ©2008 Bill Falzett

Tags: