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Thursday, September 25, 2008

We Need Ethics Reform legislation not a $700 Billion Bail Out

$700 Billion Bail Out bill is wrong for the country in its present form, the government Needs to put together Ethics Reform legislation to include limiting Pay for CEO’S, we need an outside panel to over see spending, accounting, and ethics to insure that the reforms are taking place. The current senators sitting on the banking Committee need to remove themselves from any oversight of this legislation and any Bill put into law due to there failures of oversight. Ceo’s getting 90 million dollars over this mess is outrages and the FBI should open an investigation against all current and past CEO’s that are still benefiting in income from current and past service. In 1979 the government gave loan Guarantees for Chrysler, which was then on the brink of bankruptcy. Though frequently referred to as the Chrysler "bailout", the government basically acted as a co-signer on loans to Chrysler. If memory serves, the infusion of cash helped saved Chrysler, Chrysler re-paid the loans early, and the deal didn't cost the Fed any money. So why aren’t we looking at something similar to that were the government could loan the different agencies the money at a 2% premium. A poll released by the Los Angeles Times and Bloomberg showed that 55% of Americans oppose government aid to failing financial firms, in a sign that treasury secretary Henry Paulson is struggling to sell the scheme successfully. So why aren’t our senators listening to the americans who oppose this deal. All I hear on CNN and other News Agencies is that we must just vote yes and give away the money, and who cares what the taxpayers think. This bill is wrong and the senators who are wanting to just sign off on this should be recalled. When did the Democrats start trusting this adminitration after what they call miss management of the Bush Administration of the Iraq war. For this reason alone we should Limit Senators Terms.

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