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I truly have mixed emotions about this bailout bill, I'm not happy with some of the language, including that which would allow our money to fund bailouts of foreign banks, still a large lack of oversight, and I would like to see much stricter caps on executive severence packages.
I did like the part where firms had to start paying into an insurance fund, but would like more taxpayer protection. What IF these firms we bail out turn a profit, what happens to those proceeds? Are they immediately applied to our national debt? Or do they disappear into the ehter of Washington spending?
I would like a lot more assurances on oversight, limits on how much will be bailed, and honestly, would like to see other routes tried before resorting to throwing more money into the maw of Wall Street. I'd like to see Glass-Steagel(sp?) reinstated.
My county is already in double digit unemployment, credit card use in my shop has dropped dramatically(a good thing in my opinion) my income is WAY down, but thankfully I have an awesome landlord who understands it's better to have rented property, than empty property and he's cut me some slack on rent till the economy improves(this without me asking for a reduction!!)I'm cutting back on 'extras' in stocking, and concentrating on getting by with the least possible. Does it hurt? Sure it does! But as long as I can provide food and shelter for the kids, we'll get by without the extras(which we didn't have anyway<G>)
I hope CS is right, that there is a resurgance in self reliance, and production. And on a purely local level, I sure do hope our current fuel crisis results in our state govt getting off their duffs and looking seriously at light rail transport. We are seriously crippled right now with empty gas station tanks, and folks panicking about being able to find fuel, it's truly insane down here!