Here's Why Congress Should Reject Bush's Bailout

News & Politics

I just called my Congressman and urged him to give Big Hank Paulson the finger on his insane $700 billion to buy worthless assets. I strongly urge you to do the same. Some of the general points I made include:

  • The administration is essentially arguing that the treasury secretary should have unchecked power to buy up garbage assets without any congressional oversight. This is completely unacceptable.

  • The panicked way this administration is pushing Congress to enact this godawful rescue plan is akin to how it bullied Congress into voting to authorize the use of force in Iraq. Do not let yourselves be bullied.

  • Given the bang-up job this administration has done in rebuilding both Iraq and the Gulf Coast, do you really want to give them $700 billion to play with? Could you please step back and think before you vote?

  • If these Wall Street a-holes are going to be unloading their shitty debt onto us, I want them under an iron fist of regulatory power. In particular, I want the CEOs of all participating firms to have their salaries and benefits slashed as punishment for making us pay to keep their sorry asses out of the local homeless shelter.

This is a very big deal, peeps. While it may not have the immediacy of opposing the Iraq war, it will have very serious consequences to our financial futures if it passes as proposed. You can find your congressman by entering in your zip code here.

Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ }}
@2022 - AlterNet Media Inc. All Rights Reserved. - "Poynter" fonts provided by