Pleading for Reason and Action

This entry has nothing to do with me or Kristin or the baby. But in reality, it has everything to do with all of us. This morning, the House voted down the proposed $700 billion bailout to help rescue our embattled financial system. This is going to be a bad thing for all of us. The main reason why we study history is to learn from it. If you recall back high school U.S. History, there was a big chunk of time spent on the Great Depression. Everything that has been happening on Wall Street over the past couple of weeks is eerily similar to what happened on Wall Street back in 1929. I thought that we had learned a lot about the decisios that led to the Great Depression and had inacted measures to keep it from repeating. But, nearly eight years ago, when George W. Bush took office, he and Congress immediately set about deregulating Wall Street. We have been building up to this melt-down ever since then. George W. Bush and several key leaders from Congress had a plan in place that, while difficult to swollow, would have kept us from slipping into a worldwide depression. But the House of Representatives voted it down by 12 votes this morning, sending the Dow into a dive. As of writing this, the Dow is down 505.53 points.
I don't mean to sound all doom and gloom, but I just want to stress how serious this is for all of us. If this goes un-fixed, many people will lose their jobs, prices of necessities will go way up, and lots of people close to us will probably lose their homes because banks won't be able to take late payments or the inability to pay because of job loss or whatever. So, I am imploring (good word, eh?) Congress to reconsider their decision and pass this bill that will give us some breathing room. We don't have time to delay this.
Each of you have the power to prevent this from happening to future generations, and even the power to turn this around. Vote! Now I know that Kristin is going to roll her eyes at this post, but I just feel so passionately that every citizen of this country get out and vote for who you believe in, and who shares your values. If everyone does this, the shared values of Americans will be represented, and not the values of corporate greed and corruption.

5 comments:

Yikes, and now we're down 778. Scary!

September 29, 2008 at 2:18 PM  
Jana said...

Er, I agree with your post and just happened on your blog by chance, but what I'm saying is...BABY?!?!?! THERE IS A BABY?!?!?! We really have been away a long time.

September 29, 2008 at 6:29 PM  
Chris said...

There's a baby on the way, Jana! Kristin is due on April 11th.

September 30, 2008 at 7:51 AM  
Jackie said...

Yeah, but at the same time, the bail out would teach every big company that if they make bad investments it's not that big of a deal, the government has their back.

September 30, 2008 at 10:58 AM  
Chris said...

Under the bailout, the government would be buying the debt, which would make us as taxpayers the owners of these securities. It's more like a hostile takeover than anything else. This plan would have been a punishment for corporate America, not a blessing. But if these banks fail, so does our way of life.

September 30, 2008 at 12:00 PM