Except that Speaker of the House Nancy Pelosi says, “People have to know that this isn’t about a bailout of Wall Street. It’s a buy-in so we can turn our economy around.”
A buy-in? So we’re nationalizing Wall Street? Or is Wall Street privatizing the federal government?
Either way, I don’t like it. Where does it stop? Home builders want a $90 billion bailout now. Auto makers have been asking for a bailout for months. What about steel, when imports get cheap enough to threaten domestic mills again?
Our federal government apparently sees in the Constitution (must be on the same invisible page as the unalienable right to kill unborn children) the power and the duty to force American taxpayers to support powerful corporations, even when we don’t want to buy their cars or use their credit cards.
That’s what these bailouts are: government-enforced transfers of money from unwilling consumers to companies that are failing because they can’t get enough of us to send them money voluntarily. It’s unconstitutional, and I would really enjoy seeing someone with the guts to challenge this in court.