Interesting article in the New York Times today about the $700 billion dollar bailout and how it’s “helping” our economy. Apparently the reporter sat in on a J.P. Morgan financial call and when an employee asked when the company would start using it’s bailout money to make new loans, the executive replied that they would not be loosening up credit, but instead they would instead use OUR tax money to buy out other banks.
So let me get this straight, my tax money is being used to consolidate financial power on Wall Street?
The worst part about this whole sickening story is that neither McCain nor Obama has the insight or the integrity to lead us out of this mess. In my mind Obama is another Carter. Good hearted but naive, and fiscally reckless. And McCain has been sitting in a position of power for over 25 years, for many of those years in the majority party, and look where we are. That’s leadership?
I think we’re in for a rough 4 years.