Life on Earth

September 29, 2008

Wall Street Bail Out, Just Say, “no”.

Filed under: Journal — gary @ 2:46 pm

Sally Neal (top) and Jacquelyn Freeman joined small group of protesters along 8th St. in front of the Democratic Party’s office in Traverse City, Michigan on September 29, 2008–conveniently just around the corner from my home. The House’s first vote on the $700 bailout wall street package failed to get the simple majority needed to pass and house leaders have vowed to bring it up for a second attempt quickly.

Wall Street Bail Out

Wall Street Bail Out

My view? Not this bill. Too much risk to bailout those who aren’t being asked to sacrifice. I prefer the more guarded approach proposed by many. Thom Hartmann’s article seems to be wise: How Wall Street Can Bail Itself Out Without Destroying The Dollar

Ultimately, we need a trickle UP approach that helps to shield “main street” against the risks of “wall street”.

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