Economic crisis

How do you feel now, America? Do you feel any more financially secure? Hundreds of billions of taxpayer dollars are being used to shore up the institutions that realized massive profits during the housing boom. Where is the relief for Joe Homeowner, who is looking down the barrel of home foreclosure, possible bankruptcy and financial ruin?

Reminiscent of post-9/11 and the quick passage of the Patriot Act, the Bush administration called for immediate passage of a $700 billion plan to purchase bad loans from lenders, without review or debate. No time to consider the common homeowner’s troubles or concerns about lax regulation. This ain’t Monopoly money, folks.

What happened to all the rhetoric and bluster about being an “ownership society?” Where is the ownership of lax oversight? Where is the ownership of bad business decisions?

Homeownership is the most-looked-at signal for a strong American economy. If you feel the fundamentals of our economy are strong, you are blind.

Bob Hathaway
Lee’s Summit

When will the bailouts end? How many American businesses will need to be bailed out? What industry will be next — the automotive industry, the airlines, insurance, retailers? Get ready. There will be more than one $700 billion bailout. Oh, will we have bailouts for the small business owners?

Jim Flynn
Leawood

Hooray for Kansas Senators!

Both Pat Roberts and Sam Brownback voted against the bailout bill indicating that they were listening to their constituency. I wish more elected officials would take to heart the concept of being a representative legislator as opposed to acting as some kind of lord protector who does whatever he or she thinks best without regard to what the little people actually want. I mean we elect them and pay them after all.

Our current economic crisis is unique in many respects. It’s uncharted territory. There is probably a handful of economists in the world whose opinions are particularly insightful, but none of them hold elected office. And no one knows with certainty what the outcome will be if we do this, that or nothing. Therefore everyone’s opinion is valid and should be counted.

The measure passed the Senate with the help of both Missouri senators (hope that’s what you Missourians wanted). But I say we take this extremely important, once-in-a-lifetime (I hope) issue out of the hands of those who pretend to know better than us. November 4 is a month away. National referendum anyone?

Jim Southwood
Overland Park

Comments

[GCYL]

“This bailout is just unbelievable! Here we are in the worst economic crisis in years and the only way they could get it passed was by adding pork.”

Could you list the pork that you personally disagree with?

While raising the FDIC insurance from 100,000.00 to 250,000.00 is personally useless, I don’t have a problem with it.

[jeanette]

This bailout is just unbelievable! Here we are in the worst economic crisis in years and the only way they could get it passed was by adding pork. Basically, what the politicians said was, we know financially we are broke, but no matter what, we are going to get our pork barrel spending through and we don't give a rat's rear end if you like it or not.
For God's sake, at least pretend. Couldn't somebody have said, hey, just so this won't look bad, let's wait and put the pork in one of the next bills that come through? What arrogance!
Every politician who voted for that bill should be thrown out of office in November.