Friday, September 26, 2008

The Bailout

I haven't read any of the articles on what's going on the plan to save the bankers, so this post is coming from my heart. I don't really know who's on what side of this fence.

I was up all night thinking about the 700 billion dollar bailout. I have been going back and forth on my feelings about this. As Clarissa mentioned to me last night, if we gave all Americans their share of the 700 billion dollar pie--we'd each get $43,000.

Well heck! We could afford to pay our mortgages and get out of credit card debt with that!

I think about the relationship that Americans have with debt. We need debt in order to buy homes and cars. We abuse debt in our willingness to use it for various other items like our much needed computers and cell phones. We live outside of our means.

We blame the CEOs of these banks for getting into this mess--but they were merely taking advantage of OUR bad habits. We're all to blame for this mess.

So, why give the money to them?

There's already a huge disparity between the rich and the poor in this country. Why rescue the rich?

As a consumer, I owe money for my car, for my computer, and a little for unpaid credit card bills. I owe whole helluvalot for student loans, but that's in a different world of issues. I HATE the late fees and the high interest rates. I feel enslaved to my debt--to these CEOs who milk money from the American people. But, when I needed a new computer, these banks were there to rescue me. When I needed a car--I was rescued. I appreciate our American way of doing things because I'm able to drive to work, whereas without these options, I'd be up a creek without a paddle--or rather, up the beltway without some wheels! (ha ha ha!)

I say we "rescue" them by indenturing them to us, in the same way that they've indentured us to them. I say we lend them the money that they need because they've lent to us. And then I say we gouge them with late fees and we up their interest. Perhaps the interest on this loan can pay for our social security. Let's take advantage of this opportunity to turn the tables on these pirates.

Like it or not, we need them. So let's take control and turn the tables in our favor.


Miss Heather said...

I agree wholeheartedly.

Eve said...

I don't know what I really want. It's scary stuff. Inflation is horrible. Frankly, we can't afford to be even more in debt to China.

Sunshine said...

It would be interesting to think that if they gave us the 43,000 and we used that to pay off debt, would our economy be any better? Would we all use it to pay off debt? Very interesting....

Love the idea though...

Eve said...

I wish someone would share whether that stimulus package that was supposed to save the economy actually did any good. It was great! But, are we going to dump more money into something without really knowing if it will actually make a difference?