Freddie, Fannie, Bear Sterns – Oh My!

I'm sorry, but these recent bailouts authored by Secretary of the Treasury Robert Paulson are absolutely ridiculous. When all is said and done, we'll have spent almost $1 Trilion! Yes, that's right people. That's trillion with a capital "T". I'm not the only one that's upset about this. Apparently, most citizens think our government just prints out more money when we need to fund something. This, tragically, could not be further from the truth.

The billions and billions our government is spending to bail these PRIVATE companies out belongs to the taxpayers of this great nation. Isn't our economy based on free markets? Should companies be able to succeed and fail without government intervention? What happens when the top level executives get their golden parachutes amounting to tens of millions of dollars when these bailouts go through? If you want my opinion, they should be put in jail and barred forever from the financial industry.

One of FreedomSpeaks' members wrote a pretty good letter on this subject (I've quoted him/her in some spots here). I think this is a pretty non-partisan issue, so I'm passing their letter on to you. Have a look and forward it to your own reps. This is a perfect example of government waste. Another trillion of our taxpayer dollars are now down the drain and the middle class has nothing to show for it. Great job politicians! Get us further in debt so the Chinese can buy more of our valuable assets.

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