WELCOME TO THE UNITED STATES OF SOCIALISM: CNN REPORT

President Ronald Reagan started this financial mess when he deregulated many of the watchdog agencies who were supposed to watch over abuses by the financial institutions on Wall Street.

Reagan wanted to help his fat cat Republican friends make even more money by taking away all safeguards against financial corruption.

Senator John McCain voted over and over again for deregulation and now is trying to say it is the fault of the Democrats when Reagan, Bush 41, Bush 43 and a Congress which was in the hands of the Republicans for almost 30 years continued to look the other way and allow the financial crisis to develop.

The plan now is use taxpayer money to bail out the big financial institutions and anyway you cut it that is SOCIALISM.

As the American public learns more and more about the bailout, they are madder than hell and they are expressing their feelings as witnessed by this CNN report.

Mad as hell - taxpayers lash out

We asked you what you had to say about the bailout, and we heard you loud and clear: 'No way!'
reader from Anchorage, Alaska.

http://tinyurl.com/4lbs89


"This is robbery pure and simple," Anna from Denver posted on CNNMoney.com's TalkBack blog this weekend.

"It's our money! Let these companies die," added Claudio from Plainville, Conn.

After President Bush petitioned Congress Saturday for the authority to spend up to $700 billion to to bail out a financial industry on the verge of collapse, he said the high price tag was not only justified, but essential.

"It is a big package because it's a big problem," Bush told reporters at a news conference. "The risk of doing nothing far outweighs the risk of the package."

But when asked what they thought of the government's proposal, most readers gave an overwhelming thumbs down.

"I'm tired of rewarding institutions and people for the bad decisions they have made," said Dean from Madison, Wis. "Sure, it will hurt tax payers if/when some of these institutions fail, but perhaps we need to let that happen. We do not need more big government involved in our lives. Enough is enough."

Don't hand me the tab
Readers focused most of their indignation on having to foot the bill for irresponsible lenders and borrowers.

"Companies, like individuals, should be held responsible for their decisions," wrote Jorge from El Paso, Texas. "This buyout does not address the other problems in the pipeline such as personal credit default and market slowdowns in most industries. No new jobs will be created."

Paul from Portsmouth, N.H., said banks are getting the soft treatment when taxpayers are suffering.
"It is time for the financial institutions of this country to be called to the mat. We should be expecting and demanding responsible and ethical business practice, not rewarding it at the expense of taxpayers."

And John from Springfield, Va., said the government action actually hurts the people it is intended to help.
"The government does not have $700 billion dollars. WE have $700 billion, and it is being taken from us. If this is passed then the next administration and the next will be extracting this one from the people who are supposedly being protected by this bailout."

Where's my bailout?
Other readers wanted to know why the government didn't spend the $700 billion investment on the majority of responsible Americans who are suffering because of the bad bets of the few.
"Why not take the billions and ... make funds available to home owners stuck in the loans these idiots created, marketed and sold," asked Don from Coarsegold, Calif. "It will put the money where it should be with the little guy who made a mistake, instead of the big guy who created the problem."

Jordan from Charlestown, Ind., asked why different rules applied to big banks and ordinary investors.
"Once I invested in something and lost money. Maybe I could just change the rules of investing so that my loss turns into a gain? Oh, I forgot only banks can do that!"

Vote these jerks out
Some readers said it was time for the politicians who support the bailout to get the heave-ho come November.
"I will be watching to see which of our representatives vote for this bailout," said R. Kidd in Troy, N.C. "Let the American people see how many we can fire come election time."
And many readers, including Danny from Texas said we should stop typing and start dialing the lawmakers who are prepared to give the OK to the bailout.
"Call your Congressman. Stop blogging, posting comments, and call your congressman. This is the patriotic thing to do. Let them hear your opinion, show them this is still America and that you will not stand for this!!

Read more here: http://tinyurl.com/4lbs89