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Richard Cloer
Norfolk

 
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Posted By Richard Cloer

Congress passed the 700 billion dollar bailout bill, which rewards major financial organizations for making utterly disastrous decisions in the subprime mortgage mess. The fact that the federal legislature ‘had’ to step in and use money we don’t have to help organizations that obviously have not helped everyday Americans infuriates me. And, to add insult-to-injury, I became even more disgusted as I watched the national leadership, lead by House Speaker Nancy Pelosi, wallow in a vulgar display of false security because I understand that the taxpayers will be the ones who will be made to suffer.

As the events leading up to the bailout revealed themselves, I tried to wrap my mind around what truly happened. Beyond the corporate greed that is the true cause of this mass misery, we have millions of Americans who invested their retirement and IRA accounts into organizations such as Merrill Lynch, Bear Stearns, and the AIG Company believing it was a good outlay of money. So, we have average Americans using their asset allocation principles to squirrel away funds to be used as their retirement, which is smart thinking. However, investing for a strong retirement is something that takes decades. Now, we have a population who did that which they knew to do and are now told that not only have they lost their next egg, but they are now told they must pay into the massive bailout plan. Where’s the justice?

Both Congress, who allowed this to happen, and the corporate managers, whose main interest was their personal bottom line, have much to answer for, but it will be the hard-working people who will suffer the brunt of this catastrophe. Just like the two wars we are waging in Afghanistan and Iraq: It’s a rich man’s war, but a poor man’s fight. It’s reminiscent to the song I’ve embedded with this blog entry, the Federal government is looking into the eyes of the American people and saying, “You can’t win.”


 
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