Crash It! *Updated*

September 30, 2008 at 8:02 pm (Politics) (, , , , , )

I’ve been trying since 9:00 a.m. this morning to send an e-mail to my peeps in Congress. Seems like every other American is trying the same thing because they have this message posted: 

The House of Representatives is currently experiencing an extraordinarily high amount of email traffic. The Write Your Representative function is therefore intermittently available. While we realize communicating to your Members of Congress is critical, we suggest attempting to do so at a later time, when demand is not so high. System engineers are working to resolve this issue and we appreciate your patience.

I’ll only assume if I attempted to contact my Senators that I would get the same response. I say CRASH THE SERVER!!! JAM THE PHONE LINES!!!! LET SOMEONE IN WASHINGTON KNOW WE’RE PAYING ATTENTION!!!!

I’ve been doing a lot of reading and talking to people who have a better grasp on this situation than I do. I have a pretty good grasp. I know I had one table today… 1. Uno. One. Our crowd gets thinner everytime something else goes under. If you say it hasn’t hit Main Street yet, you aren’t looking in my bank account. Oh, I no longer have a bank account, so, guess you won’t find anything there. Well then, take a look at my paycheck.

However, from the reading that I have done, its apparent to me that Paulson, nor anyone on Wall Street needs a bailout from the American taxpayers. There are other avenues for solving this crisis. At least, they keep saying that. Obviously one of the biggest problems is the mortgage crisis. Another big problem are all of the corporate leeches who got us into this mess to start with, because they were given the rope to hang themselves by deregulation. What they have done is greedy, reprehensible, and irresponsible and if they walk away from Wall Street with anything more than a boot up their collective asses, I will personally march on Washington, DC with a sign and all.

Does something need to be done? Of course it does. However, I’ve read enough “rush to judgement,” “unknown impact,” and “there are other ways,” from The Washington Post to The Wall Street Journal to convince me that The House did the right thing.  The Irish government made a surprise move today in insuring all of of their banks (there’s four) for two years. Basically, the Irish form of FDIC. The reason banks fail is because some are stronger than others, and rather than risk your money in a weaker bank, you pull your money (or your company’s money) and put it into a stronger bank.

This leaves the weaker bank still weaker and they go under.  One proposal now is the raise the FDIC to $250,000 instead of the current rate. In Ireland, the investors were much happier and their stocks rose anywhere from 7 to 22 percent. I got this information from a gentleman mentioned in the WSJ, Mike Shedlock of Mish’s Global Economic Trend Analysis.  He breaks down the Paulson Plan fairly efficiently and reiterates a lot I’ve heard from other sources, and what I had figured out myself due to an incredible Political Science teacher in college (re: The Paulson Plan being unconstitutional and the government intervening in free trade amounts to Socialism).

I think this why a lot of those in Congress, including those running for President, and a lot that weren’t,  didn’t say, “Hell yes! Its the best plan ever!” They said they were inclined to vote for it, or that it needed more work, or if certain stipulations were met, they might vote for it. But, most seemed uncomfortable and even Newt Gingrinch said he would have “sadly” voted for it because it was the only thing Paulson would agree to.

Oh. Really?  Too bad Paulson’s position isn’t an elected one.

So, I’m feeling the crunch on Main Street, but, knowing what I know now, I’m glad the Bailout Bill failed in the House. Maybe it’s worthy for all of us to stop, take a breather, and look into this a bit deeper. If they raise the FDIC, it appears as though we can stablize the banks and buy the time we need for real change and boots up asses, not bailouts.

*UPDATE*  I was able to send an e-mail to both of my Senators, however, I’m still trying to get through to my Representative.

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11 Comments

  1. speedmeisterp said,

    There are lots of other options besides bailouts, and the scare tactics the Bush administration is using to pass this is rediculous. Paulson said a year ago the economy and banks were stronger than he had ever seen in his career. Call congress and let them know you do not want your dollars being pocketed by the wealthiest people in the world – Call Congress — 202-224-3121. They are saying they will pass this tomorrow, call and tell them there is no way we will stand for it. If the line is busy try again later. Thanks.

  2. kenju said,

    I’m glad it didn’t pass. I think they need more time to decide what will solve the problems.

  3. Doug said,

    Yep, I can think of a couple of other “Panicky, quick” decisions that weren’t the most positive our government could have made. I’m sure you guy’s can as well. So I’m w/ nannapoopoo, hang back, and take a breath. I’m not sure what’s happening where you guys are, but there are a lot of people in Nashville looking REAL serious about doing something about this. Tennessee is sucking w/ the delegates, but at least Nashville has a bit of sense…. bet cha’ couldn’t guess who I’m voting for. 🙂

  4. Noonie said,

    ROTFL. I always knew we thought alike, read your blog this morning to find that your post of 29th is similar to mine in idea. Yours is more eloquently done. Hear hear is what I say let’s make all the fat cats put their savings in the banks till the mess is sorted!

  5. alexhiggins732 said,

  6. eviltwinswife said,

    I’m trying real hard to NOT panic. What I want to do is pull out all money I have in bank(s) and put it under my mattress, but I think that would just make things worse.

    Still a nervous bert.

  7. blackpunkin said,

    Just got through to Shelley Moore Capito. She got an earful, even though she voted agains the House bill. Just keep in mind, my people, that the original bill allowed for foreign banks to transfer their bad debt to their American counterparts so we taxpayers could swallow it. DON’T ALLOW IT!

    This new bill is the equivelant of putting lipstick on a pig. No matter how many incentives they tack onto it, its still a bad deal for America. They can shore up the banks another way, independent of our tax dollars. Paulson is an alarmist and an elitist. DON’T LET THEM GET BY WITH IT! WRITE TO YOUR SENATORS NOW!!!

  8. E-Lo said,

    I think it’s interesting that they call it a “bailout.” You’d think they’d try to put a more positive spin on such a negative thing. But whatever – I’m glad it didn’t pass.

  9. LisaBinDaCity said,

    Good for you for your perseverance! They need to hear from concerned citizens…

  10. Marie said,

    There was a big notice put out by the House, that they have not experienced the amount of emails they are receiving now – since the day after 9/11. They have had to use an auto trap to handle the load. what a crock of shit.

  11. subeeds said,

    Good post, Nanner!! One thing I haven’t seen or heard mention of is where is this outrageous amount of money for this bail out going to come from? Are we going to borrow it from China like we did for the “economic stimulus” package? We have to get it from somebody. I think we also need to get some folks in office who will go back to regulating all these morons wo play fast and loose with our hard earned money. I also was able to email the elected officials from Ga., but wonder what good it will do in the long run. I will admit that it made me feel better to add my voice to all the others. Almost made me feel as good as getting a huge new bead order-but not qite. LOL!

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