Bush Administration STILL Supports the Bailout Plan

If there were ever a reason to be against something these days, it would be if the Bush administration supported it. This lying, arrogant, useless president (yes, lower-case p), is still touting the wonderful bailout plan as being “good for the country”. I don’t know exactly where he lost my last thread of faith in my belief that he at least meant well, but now I know that he’s just a shill who for some reason is doing everything in his power to dismantle this county, piece by piece.

January 20th can’t come soon enough, but I’m solidly unconvinced that things will truly change after that, either.

Here’s an article from Channel 4 News about the Bush administration’s continuing support of this completely dynamic and non-transparent bill:

The White House, under fire from Democrats and Republicans alike, defended giving billions of bail-out dollars to banks that plan to reward shareholders and executives or even buy other banks.

Allowing banks to engage in such normal business activities could help loosen lending and revive the sagging economy, Ed Lazear, chairman of the Council of Economic Advisers, said.

He said the administration would not impose conditions beyond those required when Congress created the bail-out programme and authorised the government to buy stock in financial institutions.

…

Despite the gloomy outlook, the White House offered its clearest rejection to date of a second stimulus package to boost the economy. Mr Lazear said “the appropriate stimulus right now” is only what has already been passed by Congress: the 700 billion-dollar (£437 billion) financial industry rescue package.

Support is growing in Congress, however, for billions in federal spending for such initiatives as public works projects, aid for cash-strapped states and new jobless benefits.

Mr Lazear was put before the cameras in the White House briefing room amid a rising chorus of complaints from politicians about the latitude that banks will have when they receive bail-out money from Washington.

That bail-out was originally sold by the administration as a plan for the government to buy toxic mortgage-based assets from financial institutions, to get them off their books and inspire them to resume normal lending.

After passage, though, the administration decided the better course would be to devote 250 billion dollars (£156 billion) into buying ownership stakes in banks.
(Original article here)

Everyone seems to be just simply getting in line and shouting for their own piece of our tax dollars. A public boycott of every company who participates in this charade is certainly in order, just as avoiding a vote for any politician who supports this type of nonsensical action.