(Community Matters) My response to a posting by another local blogger
Jim, I’m with you against the slush funds [20% of recovery payments earmarked for special interests in current bill].
Count me among the taxpayers angry about this. In fact, the trillion plus dollars have already spent by those in charge during the last 7 years.
It’s the cost of Republican “voluntary regulation” philosophy. It’s the rosters coming home to roost.
The bailout is about avoiding this cost being borne even less manageably in jobs, wiped out investments and retirement accounts and the values of our homes. With sufficient protections – including oversight and enough equity participation to recapture the systematic recovery in stock values – it represents the only offered way to protect us while offering some eventual recovery. I’m not saying it’s the best possible plan, but it appears to be the best currently offered. I honestly fear the catastrophe to working men and women in America if we don’t avoid even worse economic consequences.
Community Matters 