Saturday, Oct. 04, 2008

Letter: Now, kick 'em out

Editor: Now that Congress has finally passed the bailout bill and the president has signed it, it's time to kick out everyone that voted in favor of it.

The only thing this bailout does is prop up the economy for a few months, just to get us past the elections (which is their plan), at which point we will be back where we started, or worse.

Congress and the president have decided to spend $700 billion we don't have on a plan that is ultimately doomed to failure.

I keep hearing that we are in a credit crisis, caused by easy loan terms that were unsustainable, and that without the bailout it will be harder to get a loan. You know what? It should be harder to get a loan.

It is a big responsibility, and going into it half-heartedly isn't good. It's been the easy money policies of the Federal Reserve Board over the past decade or so that have gotten us into this mess and more of the same is not the answer.

I have no sympathy for these companies that decided to gamble on these loans. That's part of doing business in America. If you take a big gamble, you might get a big reward, but you also might have a big failure. That's why it's called a gamble.

Another argument one hears often is that it might be a bad plan, but it's better than doing nothing. Really? A bad plan is worse than doing nothing. A bad plan will put us deeper into a recession/depression than would have occurred.

If it's a bad plan, then the representatives and senators should stand up for what is right and vote no until a good plan is proposed.

RAYMOND WILSON

Atwater