What the Bailout Means for Our Future
From downsizedc.org:
The first House vote, in which the Big Bailout failed, showed the power of overwhelming pressure. The second House vote, in which the Big Bailout passed, showed the weakness of waiting to apply such pressure at the last minute.
Human psychology is such that we always want to wait to the last moment, when a deadline looms, to take action. We must overcome this aspect of our psychology if we are to prevail. If we do not, then we will always lose.
It really is that simple.
Things would be vastly different if the same pressure applied to Congress on the Big Bailout had been exerted much earlier to end the government policies that caused the housing bubble.
Had the pressure citizens brought to bear on the Big Bailout been applied earlier, and for a long period of time, to . . .
* Close the Department of Housing and Urban Development
* Liquidate Fannie Mae and Freddie Mac
* Repeal the "Community Reinvestment Act"
* Curtail or end the Federal Reserve's power to inflate credit
* And repeal top-down federal accounting rules such as mark-to-market
* Then there never would have been a housing bubble, a housing bust, or a justification for the Big Bailout
There would have been no crisis that corporate America, the media, and the politicians, could exploit to raid the Treasury and expand government power.
It really is that simple.
Full Story at http://www.downsizedc.org/blog/what-the-bailout-means-for-our-future