Failure of Ego - Bailout sustains financial cartel

[Steven Saw]

With over a million people now out of work, and millions others losing their homes and the standard of life that has been stolen from them by greed and an incompetent government, the bailout isn't helping the people.

Read my latest article, "Failure of Ego" at http://www.SawsSaws.com

[Pat]

Agreed! The bailout, without meaningful deliberation / consultation, was wrong-headed--massive theft from taxpayers. Backed, of course, by Obama, as well as McCain, et al. Where is the process "at" such that any movement to demand Obama's transition team "STOP it!" can be implemented? The bailout was one more vulgar gesture against the people of this country.
Absolutely this bailout contradicts the players' worship of "the market" and stifles both competition and innovation, as you say. Regarding the automakers, I say--let them go back to the drawing board without government help! (Let job creation or morphing existing jobs into *really* GREEN auto jobs be undertaken by the industry.) Remember when NASA was downsized and had to come up with alternatives to so many expensive manned flights? They used their best minds to come up with non-ego alternatives--the robotic Rover, wasn't it?--and it WORKED fabulously, while saving what otherwise would've been a boatload of cash.
I'm not an expert on any of these matters, but absolutely was against the rushed bailout of Wall Street and would now like to know HOW to intelligently communicate (solo or with a group) to the Obama transition team at least my opinion about how much goodwill will be squandered if Obama as President goes forward with the current plan...

[Richard Morton Walters]

With the economy in the toilet it seems to me that something very obvious should be shouted out by the left progressive forces at this point in time. That shout out should be "Don't rationalize NATIONALIZE!"
We are giving 70 million PLUS dollars to the private sector, and it seems that they are dumbfounded as to what to do with all that money. Big business is so big that the right hand does not know what the left hand is doing, It is obvious that they are confused and overwhelmed.
Instead of dolling out all that public sector money to the hopelessly inept private sector conglomerates, the public sector should use those billions of dollars to buy out and operate those failed private enterprises as a public enterprise and the profit should go to enrich the american public as a whole. Our private economy is too global to get a handle on it. The political left should know this better than anyone else, but they remain silent. Why?

[Richard Morton Walters]

NATIONALIZE! Don't RATIONALIZE!

[Richard Morton Walters]

The propaganda that the government is screwing the american people is basically not true! .. There are some members of congress that have sold out the interests of the american people and were richly rewarded for their betrayal by powerful economic forces within the private sector. This was and is a betrayal of private sector capitalists against the government and the people that the government represents under the constitution and the rule of law. The public sector is structured to promote and protect the public interests of the american people as a whole, but unfortunately these interests are subverted by the masters of our economic life that operate within a private sector structure that demands that power and economic interests come from the top down rather than from the bottom up. The constitution and a democratic form of government demands that political power should come from the bottom up. Fascism is the direct rule of the private sector over the public as a whole.

[eggy1943]

Totally true Richard. We must form an “Assembly” of the people of the US. Than petition Initiative and Binding Referendum like the Swiss have so we have a bit of control of our government. Some fear this but double majority of both popular and state majorities protects from poor initiatives being inacted. Of course another Initiative can correct any mistakes. Unlike our Congress which just keeps mistakingly going on and on.

Please join here for a start:
http://usinitiative.ning.com/

[eggy1943]

With an Assembly of people and states we can demand a Constitutional Convention. I&BR would give us the leverage.

[Pat]

Per Michael Hudson, president of the Institute for the Study of Long-Term Economic Trends: "Bloomberg calculated over 7.7 trillion dollars of just the government taking over from the financial sector this year."
Pat