How did we allow the government to bail out all these banking and insurance companies?


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I dont understand how we just allowed the government to spend trillions of dollars to spend on their friends who messed up, how did we allow this, yet 50 million people have no health insurance and the Republican solution is "socialism is evil!" No handouts!" But how were they allowed to spend all this money and...


Answer (6):

 
Federal Farmer

We did not allow it, the American Plutocracy just did it.

Plutocracy - a wealthy social class that controls or greatly influences the government of a society.


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http://video.google.com/videoplay?docid=-515319560256183936
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"The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole...
Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money...".
- Prof. Carroll Quigley

 
Witchy

The politicians (both parties) knew that we didn't want it yet they did it anyway. I tried to make my voice heard. I wrote to my reps. They wouldn't listen.

But perhaps you don't realize who voted for the bailout. Yes, Bush signed it but the vast majority of elected officials who voted for it are Democrats.

108 Republican House members voted against the bail out but only 63 Democrats were against it.
91 Republicans felt it was necessary but a whooping 172 Democrats liked the idea of rewarding mismanagement.
http://clerk.house.gov/evs/2008/roll681....

In the Senate, there were 39 Democrats, 34 Republicans, and 1 Independent who voted Yes.
Voting No were only 9 Democrats, 15 Republicans and 1 Independent.
http://www.usnews.com/blogs/the-home-fro...

Bush should have vetoed that bill. Yet he didn't. Still, there were many more Democrats that voted Yes for it than Republicans.

 
The Wise

Easy. We elected idiots and incompetents who sleep with banking industry to Congress. At the very least, we're guilty of elected people who have no economic background to Congress, who in turn fell to the scare put for by Bush and Paulson.

 
DAR

More Dems voted for it than GOP and more GOP who did vote for it were voted out by their conservative constituancies.

And I didn't see you leading a militia. The calls were hundreds to one against it. What concrete, additional action were you suggesting?

I suggest this one: http://www.endthefed.us/

Even if you don't agree with outright abolition of the Fed, a large enough gathering would focus attention on the appropriate place.

 
MenifeeManiac

We did not choose to endorse the bailout; the elected officials, including Republican role model GW Bush were responsible.

Heck, I need a bailout; and it would only cost $1,000,000.

 
Lord Percy Wooster II

socialism for large corporations, farmers and texans isn't socialist