These people on Wall Street are moving fast. Trying to push legislation that, they say, will save the world. Today's plan is to raise the Federal Governments insurance coverage of bank deposits. The present level of coverage is $100,000 per account. Lots of people, businesses have several accounts as it is.
Really! Who is being saved, here? How many people do you know that have over a $100,000 in the bank? How many people do you know that are surviving month to month? How many people do you know that are just not making it? Hungry kids. Homeless families. America?
Why should the people of the United States endorse or support a Congress that is being lullied by Wall St., and the Treasury, into insuring the cash of the rich -- while watching the public – the citizens of our country -- go under?
This is NOT America, not the land of democracy and freedom.
The issue all of us are facing, I think, is that our money has become so dependent on the credit system, most of the money we think we have simply doesn't exist. Numbers in machines transferred and traded globally, without any backing except blind trust. People are starting to see. We see our country and our world being hoodwinked by lawless entities that don't care whether we live or die.
The thing governments must do, at this point, is to take care of their people. The false overvaluation of all things commercial must normalize into a real value system, one where the price of the thing is actually based on what it's worth -- not an elaborate scheme to maintain unethical practices.
Insurance, basically, encourages its customers to gamble on their fears. The omnipresence of fear, and the "security" afforded by insurance, along with bad lending practices and god knows what other banning problems, seem to have brought our people into a forced decision to insure the failures, promise them a bail out,. These entities failed because they were not sound. Does the citizen have any guarantee that they will be bailed out? I doesn't look like it. Why should we pay our blood and sweat, everything we and our forefathers and mothers ever worked for to help out a bunch of losers?
Chris Wilkinson
Image: Tony the Misfit
Location: http://www.flickr.com/photos/tonythemisfit/2862138437/
Creative Commons License: http://creativecommons.org/licenses/by/2.0/deed.en
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