Friday, September 26, 2008

Lou Barletta on the Current Bailout Plan

Give Wall Street more of a workout, not a bailout!!

Barletta says current plan not tough enough!

HAZLETON – U.S. Congressional candidate Hazleton Mayor Lou Barletta issued the following statement about the ongoing economic crisis:
“The current plans on the table in Washington do not accomplish the goals I set out in my statement on Wednesday.
“There is a need for government intervention to correct this problem. However, I am not seeing anything that would strip away the golden parachutes for failing executives. There is no mandated investigative commission to get to the cause of the problem. Finally, the current plan appears to be more of a gift rather than a loan with strict requirements.
“Congress is about to reward financial institutions that think nothing of charging citizens exorbitant penalties for late payments, increasing interest rates for individuals with poor credit, and foreclosing on homes. Those institutions would receive a get-out-of-jail free card with nothing more than a slap on the wrist. These financial institutions are getting far better treatment than they give to their consumers.
“If we are going to fix this problem, we need to give Wall Street more of a workout than a bailout. Congress needs to do more to hold these companies accountable and to learn why they failed to stop the crisis."
“Republicans and Democrats in Washington continue to point fingers at each other and hold press conferences, but the problem remains. This is not acceptable to the American people.”


Anonymous said...

I agree wholeheartely- The money market needs to clean up their act and quit acting like pigs. The prime rate is around 3% and these credit card companies still charge close to 30%? That old saying "Pigs get fat, hogs get slaughtered" never rang truer. Time for the credit market(and all publicly-traded companies)to make a fair profit(In my view, 15-20%)rather than the 30 to 40 percent now mandated. And while we are at it, clean up these so-called stock analysts who have the power to trash stocks because they didn't reach their piggish forecasts....

Anonymous said...

I Call Bullshit

Here is a balanced view: fuck the cocksucker ass-wipe Republicans - they are the dipshit big business coddlers asleep at the wheel who allowed the fucking mess we see the last 2 weeks. You call it - unregulated toxic lending bringing down the big financial institutions, Mid-East quagmire killing the sons/daughters of poor people, environmental laws strip-mined, out of control deficit dooming my kids future, stripping basic services for disabled - fuck those shithead bastards! Fuck those butt-fuckers and the mule they rode in on! All those fucktard assholes have done for the past 8 years is squat down and take a big steaming dump of shit right on the head of the little guy.

Zen said...

anon 7:45, your diatribe is aimed only at the rupublicans. Like most rabid lefties, you can't see the culpability in this mess of your own dems in office. Chris Dodd, barney Frank, and Bill Clinton all pushed for the deregulation that led to this. They forced banks to lower their lending standards and to make loans in ultra-high risk communties. Don't get me wrong, there is plenty of blame to go around and yes that includes repubs too.

I've said it before and I'll say it again, if you're rabidly left or rabidly right, you're still rabid and need shots.

Right Winger said...

Wow, anon 7:45, by any chance are you an english teacher?? Flaming liberal with how elequently you speak gave me that idea.
Want to explain to me why the Democracts get a free pass on all this???? They had NOTHING to do with the "affirmative action" in the banking industry?? Giving mortgages and loans to unqualified people just because they were a minority or "lower class". Well, they got their wish and what happened?
And, mister "I can't speak without cursing because I'm stupid", please explain how your mind blanks out any thoughts of reason and just accepts that Democratic politicians are "of the people and for the people." You really think these people make 30K a year and can relate living paycheck to paycheck.
Now your'e going to make me curse. You talk about the steaming dump you say was taken by the Republicans?? How about the steaming bowl of shit you keep eating that the Democracts keep feeding to you. People like Kanjorski and Rendell who are above the law and above answering to anyone. People like you keep supporting them and they just laugh their ass off behind your back. At least I have a mind of my own and I question things.

Anonymous said...

A Democratic defrauder needs to obtain much more campaine money, to have the ability to defend himself,namely(Obama)throughout the nation,It is bad enough that many democratic voters have been subtly hypnotized to lacking the actuall valuable issues.You can laugh if you want but remember ,when Obama comes into office & all bets are off,then I am sure you will wake up.By then it will be too late.

Zen said...

anon 12:19, you are exactly correct. thanks for the comment.