A Punitive Bail Out is Needed

September 29, 2008

Today, the Congress refused to pass legislation that would have given almost 700 billion to rogue and dishonest bankers. It was a good thing. There is no need to act rashly when giving away that much money and most importantly there is a moral component being ignored. The average American believes criminal and dishonest behavior must not be rewarded.

Considering that most in Congress and everyone in the White House are dishonest it is not surprising the legislation made it this far!

Sure, the legislation would have limited executive pay for multi-millionaires but this does not make the bill more palatable or even moral. What we need is an eye for an eye approach to show there are significant consequences to dishonesty. It must be punitive and incorporate the following:

The officers of any company taking a bailout must give up their home/s, bank and investment accounts to the US Treasury before any money is given to their company.

Each officer of a company receiving a bailout must go to prison for a minimum of 1 year for every ten million in bailout money their company receives in this deal.

No exceptions.

A truly capitalistic economy would have allowed companies to fail and accepted the consequences of those failures. No more. Bush wants fascist capitalism where the government decides what is best and right now big business is being sheltered for the “good of the state.” De-regulation of the late 1990s brought us to this sorry state and billions will not change that.

The wealth of the common man is being looted by big business and politicians. It must stop.... NOW!