Sunday, October 05, 2008
Why Didn't States Speak Out On Wall Street Bail Out?
It's mind boggling that not one State spoke out during the Congressional Wall Street Bail Out proceedings. Once the 700 Billion dollars was given away to the corporate Fat Cats then and only then does the Republican Governor from California asks for a $7 billion dollar loan.
Now another state and a major city are announcing major financial problems. The Democratic State Treasurer--Timothy Cahill-- of Massachusetts reports that the state cannot obtain a loan. Cahill wants the Federal Government to give Massachusetts a loan under the same terms the investment banks obtained their bail out. The City of Dallas is laying off 1100 employees due to indebtedness of 84 million dollars.
Congress should have NOT bailed out the Wall Street corporate fat cats and used the money so the 50 states in this country would be able to create jobs not lose them.