Was The Rush To Pass The Bailout Package Based On Fear Tactics?

October 03-2008:

Was The Rush To Pass The Bailout Bill Based On Fear Tactics?

I have watched for the past few days when George W. Bush made public the economic crisis facing this nation. Along with his Treasury Secretary, who took the liberty to further emphasize that unless some immediate action to allow billions of tax payer dollars into the system, to boost the flow of liquidity. Something sinister may happen to this economy, thus causing a total collapse of our economy, and possible the worlds.

This led to the passing of the new and improved Senate's version of this bill.

However, some Republicans and Democrats in the House did not fall for this hype, and held on to the view that they will not be party to any corporate "Big Wigs" bailout, at the expense of the tax payers, because they felt that this crisis was caused by the greed of some Brokers and Investors on Wall Street. In an un-regulated Free Market System which was allowed to have free rein for the longest time without some Federal regulations or oversight.

This led to an impasse, which led to another crisis of fear, propelling some SERIOUS compromises that allowed for the injection of PORK, or provisions that had nothing to do with the 700 billion allocation objectives. To the amount of 120 million dollars ( or something in that vicinity). Just to appease those disgruntled Republicans and Democrats in The House, to come on board and vote in favor of this Rescue Initiative.

Now I wonder if these political representatives in both houses, especially the presidential candidates really believe that the commonweal does not realize what truly happened in the House today?

Does our political representatives truly believe that the gravity of what is involved in this rescue package or initiative, is fully understood in DETAIL by most Americans?

I think not, and Heaven help all of these political representatives, should this money fail to even make any significant difference in the lives of ordinary, blue collar, minimum wage earners, and the middle class. Most of whom have most to loose in this action, and nothing to gain in the near future of any significance.

Derryck.
NYC.