 iReport.com is a user-generated site. That means the stories submitted by users are not edited, fact-checked or screened before they post. Only stories marked "On CNN" have been vetted for use in CNN news coverage. Learn more » |
 |
Appeared on 
iReports used in CNN's news coverage
Black in America
Join the conversation as CNN takes another hard look at the myths, the facts, the stereotypes and the realities of being black in America.
tell your story like a pro
keep up with what's new and what's coming
iReport roundtable: Thursday 2:30 p.m. ETInspired by Lady Liberty
CNN.com wins Edward R. Murrow Award
UNITED States no more?
A key point that the supporters of the bailout bill are missing is the enormous repercussions the bailout will have, if it materializes, on the government-citizen relationship. While most US citizens are kicking and screaming bloody murder, our leaders insist on moving full-steam ahead with the bailout, citing vague threats of impending calamities in case of inaction and soliciting the help of celebrities like Warren Buffet (with all due respect to the good man, lauded philanthropist, and investment icon) while ignoring others (like Ron Paul). We've heard it ad nauseam: "The bailout is needed to save troubled financial institutions." Let me rephrase: "We need to keep firms that made terrible loans afloat, so that they can continue making loans." (!!!) Well, (hell) no! It is not NEEDED. It is certainly DESIRED by the very perpetrators of the crime and their friends, but it is not needed. What is needed is precisely the opposite: Troubled financial institutions must be left to fail, because they are unfit in today's environment. Those institutions that survive deserve to pick up the slack, offer loans in the future, and grow (Warrant Buffet's own Clayton Homes is a good case in point. http://money.cnn.com/2008/09/10/news/newsmakers/buffett_clayton.fortune/index.htm) Bailing out anyone at this point is in stark contrast to oft-uttered proclamations about the value of markets, their ability to correct, government's role as a source of good or evil, etc. It appears, that the good citizens of this country are inadvertently confronted with an axis of evil from Wall Street to DC that leaves them frustrated, offended, and betrayed. It leaves them few options for action at present, other than their demand for their fundamental right to be represented in government. But worst of all, the push for a quick fix (pun intended) to Wall Street undermines the very fabric that holds this country together: If the bailout bill passes, this is not going to be the UNITED states of America any more.
In response to assignment: Bailout outrage
|
Log in to report violation
|
del.icio.us
reddit
StumbleUpon
E-mail
Tweet
Facebook
Download this file
Log in to Comment
Comments
