Various Authors 8:01 p.m., July 24
- Community Blog
Padres win & Dodgers clinch the West Division title. The most interesting sports story is the Oregon State Beavers beat the USC Trojans. The OSU students/fans were loud and they stormed the field when the game ended.
There were numerous polls conducted regarding the financial crisis (Bush's terminology). I saw 4 polls, all indicating the American taxpayer is adamantly opposed to any bailout. Here are the numbers from 2 of those polls:
Rollcall.org.: Should Congress approve a bailout for Wall Street? NO 45.3% Yes 16.3%
Forbes poll: Do you support the bailout of Wall Street? NO 42% Yes 23% Unsure 35%
Each and every working American will have to work 13 days to pay off the currently proposed bailout. Since taxes already take up about 20-25% of your paycheck, adding an additional 13 days is enough to really mess up your budget. The fact that your hard earned money is going to help out some fat cats who screwed up is a big factor in those polls. One columnist wrote:
"A $700 billion bailout would be equilivant to a 1 year recession.....So which would you prefer, a recession or a bailout?"
Another pollster asked: Do you support greater oversight over the financial industry? YES 91.7% NO 5.5%
It seems the ultra rich are getting a dose of good ole American values. Mortgage and investment companies pay their CEO's a LOT to make decisions. The salesmanship for creative lending practices borders on predatory. Huge companies like Lehman & Merrill Lynch were having a wonderful time until their bubble burst. Financial wizards?? I think not.
The bottom line is this: Get proactive and let your congressional representatives know what you think. You must visit each website to fill out the e-mail form. You only have to write your text once (use copy & paste for the rest). FYI: you can find out who represents you by visiting: Congress.org.
This matter is being debated right now in DC. Time is of the essence. Take a few minutes, write your opinion and get it sent out ASAP. I don't know about you but I am tired of helping out fat cats. Let them sell their mansions, yachts, summer homes, etc. I just can't manage to feel sorry for them.
These links will take the San Diego (92101) folks to the appropriate websites.