Tuesday, September 23, 2008

The Plan With No Strings Attached

I continue to read and watch in amazement the current debate about the $700 billion dollar bailout plan in Congress. In keeping in step with their inability to either lead or make decisions I can see the Democratic Congress coming up with a great deal of pet provisions to throw into the bill and probably a great deal of earmarks that could be added also.
I have to laugh at the pathetic nature of Reid, Pelosi, Franks and Dodd commenting that they are looking out for the self interest of the taxpayer in the bill. I guess this is why Franks has come up with the comical strings attached to the bill that he announced yesterday. My question to Franks and Dodd is why did they block legislation that could have prevented this mess in the first place? So that Dodd could protect his sweetheart mortgage deal with Countrywide? Franks comment in 2003 that the fears of Fannie Mae were "overblown" . At what point does Franks think things are overblown? When his cronies stopped looting the company? Who profited the most from Fannie Mae and Freddie Mac, Franklin Raines and the numerous members of Congress like Dodd and Franks that received donations from these two bankrupt companies?
Thus the bill will come to a vote soon enough and most members of Congress will know virtually nothing about what they are voting for. As a taxpayer this is a disgrace to anyone who chooses to live within their means and pays taxes in our country. A private market solution would work the best rather than a socialistic/capitalistic system that is evolving by a Congress too foolish and too self serving to understand how our economy works.

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