Tuesday, September 30, 2008
The term "Bail Out" is an apt description of what is being planned to help keep the banking institutions out of bankruptcy; it goes well with the term "Golden Parachute" which describes the severance packages given to discharged CEO's. It seems to me that before we give the Treasury Secretary $700 billion we should find out how he's going to use it. With $700 billion we could give jobs to all the unemployed and provide health care for those in need. People with jobs buy things, even homes and that would jump start the economy faster than pouring it into the bottomless pit of the banking industry. Of course, we could give the CEO's of the top 700 companies in the US a Golden Parachute of $ 1 billion each and that could start a luxury building boom in one of the off shore islands with lax banking laws. Hell, they could buy me off with a measly million. They could pay the defaulted mortgages off and folks could keep their homes and the banks would come out fine. Give us a blueprint before handing out that much money.