Tuesday, September 23, 2008

Michael Savage Rejects Bailout as Solution

One of the first people to ridicule the proposed U.S. Government financial bailout of the financial markets was, not surprisingly Michael Savage. While most looked at it as a simple yet extraordinarily expensive solution to the crisis of the century, Savage was speaking out against it immediately on both its constitutional and financial reasoning.

At first it appeared that this was a done deal that Congress would sign onto without much debate. But now it appears that at least some have concerns and have no plan on giving President George W. Bush a blank check.

Since no one knows the final cost of this bailout it is certain to cause a lot of concern in the halls of Congress. At least it is hopeful that those who represent the people would take the time to look very closely at what brought us to this point and demand answers from those responsible.

Dr. Savage sees this as the possibility of yet another 9-11 type whitewash. In reality how, Savage asks can anyone expect a true fact finding hearing from people who all have hands in the pockets of those responsible? Great question indeed!

If in fact the bailout does get Congressional approval it would be mandatory that those who created this financial debacle be brought to justice as a matter of principle if not simply as a matter of financial oversight law.

No one who holds any responsibility in this matter should be permitted to go undetected. As Savage points out it is possible and mandatory that forensic accountants be brought in and look over the books of all the financial institutions involved in order to determine who was acting in good faith and who was cooking the books.

If any are found to have been cooking the books in order to gain personal financial gain then those individuals should have their personal assets and properties seized and the individuals sent on a long vacation at a Federal resort.

I have no doubt that the bailout will in fact take place. Whether or not that bailout will have the desired effect to stabilize and secure the economy of not only the United States but the world economy as well is yet to be seen.

There are some who believe that it would be better to let the entire thing crash and burn and then simply pick up the pieces and start all over. Though that seems to be a little more than extreme to me personally I have to wonder if it isn’t all going to crash and burn anyway.

As
Rick Roberts suggested, "who knows if in fact the bailout won’t be the thing which sets up the scenario causing the ultimate collapse." In my view we are in a world of hurt either way. If Congress approves the bailout it will become the problem of the next three generations.

Yet if they do nothing it will be an instant world of hurt for everyone. It just goes to indicate how very fragile the world economy is. So much for globalism. When it goes up it goes up and when it goes down it goes down, but when it crashes it really crashes.

Perhaps the United States Congress might want to rethink the ways in which we conduct business in a global market. Maybe the Fed needs to find a new way to put some sort of circuit breaker in the financial transmission line.

As a final thought, how is it that since this seems to be a worldwide financial crises there does not seem to be any talk about any other governments doing a little bit of anti up bailout debate since they are also benefited by the artificial propping up of the markets?

Freedom of Speech or Death
Snake Oil Sam
Snake Oil Sam Internet Media Publishing © 2008
Snake Oil Sam's News Beagle © 2008
Legal Defense Disclaimer
Contact Snake Oil Sam

Editors Note: Anyone wishing to express an opinion on this blog “Snake Oil Sam’s News Beagle” is welcome to submit it for consideration through the Contact Snake Oil Sam e-mail link located at the end of each article! The publisher assumes no responsibility for the content or opinion of submissions and might or might not agree with the content of comment.

amazing counters

Get Vitamins