Some Tough Talk On The Economy
Here is a guest post from community member Marcella Peralta Simon.
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How did we get into this mess and what sort of neat soundbites can Obama provide in ads and in debates?
Banks were flush with cash from the 90s boom and had to do something with it. They did some risky things with other people’s money and a few individuals made out like bandits while others lost their houses and life savings. The administration (Phil Gramm and co) did not want to interfere with the private sector so they were basically asleep at the switch. Things got so risky that whole companies started to implode, affecting global markets (when the US sneezes, etc.). Now, they want the taxpayers to bail out these banks and buy up their bad debt.
Obama can say under his tax policies, you will pay less for this bailout but under McCain’s proposal, you will pay proportionatly much much more. The people that made this happen and benefitted from this irresponsible excess will not be penalized under such a plan, you will. Also, banks have lobbyists crawling all over to make sure they get the best deal from the government, where are your advocates?
Its a start.
P.S. Nothing made me angrier than to hear Carly F smugly blame the Democratic Congress for this mess, after she lost big money for HP shareholders and walked away with a golden parachute.
