Bail Out the Rich say Democrats (Congress, companies, party, economy)
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The Democratic Party beats the drum about how they intend to make the rich pay more to support this country and take the tax burden off the lower classes. So! What is the intention of the Bail Out for Wall Street and other Fortune 500 companies such as the Automobile Mfgs????
Contact your Congressman and Senator. Advise them of what you expect from government.
We do not expect Socialism. We expect and want to see Free Markets. Let the Free Market system work. No bail out now or ever.
Ask them why we do not see criminal charges against the fraudulent managers of Fannie Mae and Freddie Mac. What about the oversight responsibility and fraud attributed to the Democrats?
http://www.house.gov/
http://www.senate.gov/
"We are now in the golden age of thieves. And where I come from we put thieves in jail, we don't bail them out." — Rep. Pete Visclosky, Democrat.
[SIZE=3]http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html?iref=mpstoryview[/SIZE]
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[SIZE=3]The obvious alternative to a bailout is letting troubled financial institutions declare bankruptcy. Bankruptcy means that shareholders typically get wiped out and the creditors own the company. Bankruptcy does not mean the company disappears; it is just owned by someone new (as has occurred with several airlines). Bankruptcy punishes those who took excessive risks while preserving those aspects of a businesses that remain profitable.[/SIZE]
[SIZE=3]In contrast, a bailout transfers enormous wealth from taxpayers to those who knowingly engaged in risky subprime lending. Thus, the bailout encourages companies to take large, imprudent risks and count on getting bailed out by government. This "moral hazard" generates enormous distortions in an economy's allocation of its financial resources.[/SIZE]
a bailout transfers enormous wealth from taxpayers to those who knowingly engaged in risky subprime lending. Thus, the bailout encourages companies to take large, imprudent risks and count on getting bailed out by government.
False. Those who engaged in subprime lending dumped those mortgages long ago.
My congressman voted against this bill. She is a Democrat.
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