Thursday, September 25, 2008

Dear Candidates: Go To Washington And Do What You Were Elected To Do

As much as I loathe John McCain, he has the right idea to suspend his campaign and get back to his desk in DC and go to work on this financial mess. The fact that Sen. Obama wants to continue with scheduled debates and pretend it's all business as usual is quite odd for someone who is advocating "Change".

One could say that McCain is just stalling for time regarding the debates, but the truth is that we probably wouldn't be much in this mess if Senator Chris Dodd wasn't traipsing around the country running for President when he was supposed to be doing his job as Chairman of the Senate Banking Committee and keeping an eye on these sub-prime mortgages. But then again he was also too busy getting his own sweetheart deals from Countrywide. We need our elected officials to do the job we sent them to DC to do.

Debates are stupid anyway. They omit other candidates from being heard and they are for the most part all blather about what the candidates "will do" or "might do". How about Sen. Obama and Sen. McCain actually SHOW US what they can do, by tackling this problem and coming up with a real solution to stabilize the situation. That's what we elected them for in the first place! They should be working towards a solution that won't burden the taxpayer with a $700,000 billion dollar bailout of mismanaged Wall Street firms. Sorry guys, but I am NOT interested in owning a piece junk mortgages and bad debt. I am NOT interested in profiting off of this as a taxpayer either. I also do not think it is the government's job to dictate how much money a CEO can make or how any company should run their business.

I am disgusted that President Bush is trying to ramrod this $700,000 billion bailout package with fear tactics. Nice work to try to scare the already outraged public into thinking that if we don't accept this bailout package tomorrow, as he and Paulson and Bernanke seek, that we will all suffer with job loss, failure to get student loans, car loans and home loans. The bogeyman told us last night that if we don't swallow this bailout we'll all get punished severely.

I have news for President Bush: We are already being punished severely and he needs to find another plan. The American people have had it with emptying their pockets and having their wealth stolen on a daily basis as a result of policies coming from both major political parties. There are other means to fix this problem that has been in the making for the past decade. The government created this debt crisis by allowing and encouraging and rewarding banking institutions for doling out money to people who they knew could not make good on their promise to pay it back. Now that that very bad experiment in public financial policy has failed miserably, we are all expected to pony up.

If credit dries up that could very well be the medicine that this country needs. We should be encouraged to be savers and not to spend money that we do not have. Unfortunately we have learned to depend on "OPM" (pronounced Opium) which of course is "other people's money". This notion follows right through to President Bush, Barney Frank, Hank Paulson and Ben Bernake. They also want to use OPM to fix this problem: OPM in this case is OUR tax dollars. I think we ought to tell them to take a hike.

Government caused this mess, but we now need them to encourage non-government solutions to fix the problem.

Sen. Obama and Sen. McCain need to get their collective hindquarters back to Washington DC and come up with a solution that will not involve tax dollars. Maybe the answer is for them to do nothing at all and to simply let Wall Street and their markets figure this out for themselves. (Now there's a concept). Warren Buffet has already put his billions up to help Goldman Sachs. (Paging Bill Gates and Richard Branson). Other such individuals can also pitch in and maybe even profit from their help.

The Federal government has no place, nor do they have the Constitutional authority, in getting any piece of any business, or directing the operations of those businesses - otherwise we have truly become a Socialist country.