What I FEAR.

After reading and listening to one too many reports designed to update voters on the state of the Federal bail out for Wall Street, I have come up with the only way to respond right now without losing my mind . . . I would like to suggest that the Congress name the act as follows:

The Financial Equality, Absolution and Remuneration Act of 2008 or “FEAR”.

F is for the small group of dealmakers from the financial sector who will be the beneficiary of this taxpayer largesse (I wish I had known we had this largesse before today).

E is for allowing all “bad debt” to be valued the same regardless of what its real (or original) value was.

A is for our pathethic way of rewarding corporate titans for their past sins.

R is a fancy word for “will pay you back, compensate and reward you for making a lot of money and then wanting more”.

What do you fear the most?

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2 Responses to “What I FEAR.”

  1. Ann Jakits Says:

    Patti, I completely agree with your FEAR points.

    Will we ever learn “an ounce of prevention is a pound of cure”, e.g., appropriate regulation? Can we ever break the “fix it only when it’s broken” mode?

    What I “fear” is that government will then cut back on Federal funding for healthcare and education because they’ll be busy with the Wall Street bailout.

    Hopefully the Executive Office will appoint an Oversight committee for the FBI.

    Finally, I think our government should focus on providing more jobs in the public sector. The same approach used in setting up Homeland Security could be applied to our most immediate concerns: Homeland Financial Protection, and Homeland Food Safety?

  2. Kelley Britt Says:

    Yes Patty! What an excellent way to describe the “state of the union”.

    What I “fear” is 4 more years of this crap! …Money hungry wall street and greedy non-regulatory politicians whatever party they belong to.

    With the slow but impending recession that is probably heading our way… I “fear” that no matter what I do to move myself ahead, I will never make it there because someone’s bad decision can take away everything I have worked for in a matter of minutes!

    This “fear” is prevalent amongst my friends and peers because although we (thirty-somethings) have enough time before retirement to hopefully bounce back from this financial atrocity, our present day situation (i.e. job stability, savings accounts, ability to get a loan, etc)… is much more unstable than our future.

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