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THE PUBLIC OPPOSES CORPORATE BAILOUTS
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THE PUBLIC OPPOSES CORPORATE BAILOUTS1. THE PUBLIC STRONGLY OPPOSES THE MARKET BAILOUT PACKAGE Michael Collins, Columnist for Scoop Independent News, September 29th, 2008. “Bailout Bill Defies Will of the People,” DISSIDENT VOICE, Accessed 12-10-2008, Calls to Capitol Hill are reported to be 30 to 1 opposed to legislation that bails out the rogue Wall Street investors. Public opinion polling has shown a majority opposed to the legislation, unless the question contains the unproven assumption that the economy will collapse in a few days without a bill. In a remarkable show of opposition to the bill, 1,200 marched down Wall Street Friday. There were also protests in Chicago and Ohio plus more planned for Monday, Sept. 29. This public stance developed in spite of dire warnings of a national and global collapse of the economy should the legislation fail to materialize.
William John Cox is a retired supervising prosecutor for the State Bar of California, October 3, 2008. “Betrayed by the Bailout: The Death of Democracy,” Global Research, Accessed 12-10-2008, On this date, October 3, 2008, the American people were betrayed by those whom they had elected to represent them. The members of Congress who voted for the Wall Street "bailout" violated their oath of office to "support and defend the Constitution" ... "that I will bear true faith and allegiance to the same" ... "and that I will well and faithfully discharge the duties of the office on which I am about to enter: ..." Without holding any meaningful hearings or public discussions and listening only to those most responsible for the economic disaster, Federal Reserve Board Chairman Ben Bernanke and Treasury Secretary Henry Paulson, Congress abdicated its responsibility to the American people. 3. THE PUBLIC IS OUTRAGED OVER THE BAILOUT, DESPITE THE POSSIBLE CONSEQUENCES James B. Stewart, Staff Writer, September 30, 2008. “Bailout Might Not Be Popular, But It's Necessary,” SMART MONEY, Accessed 12-13-2008, They’re angry and they’re not going to take it anymore. That’s the message I’ve been getting loud and clear from opponents of the proposed financial rescue, now widely derided as a bailout. In their view, Armageddon is better than using taxpayer money to support the financial system: “We need to go through a brutal process of resizing down;” “I don’t believe anyone should be bailed out;” “Let the overextended banks fail”-- all from a single day’s letters to the Wall Street Journal. Congressmen were overwhelmed with letters and messages from furious constituents. 4. SEVEN IN TEN AMERICAN REJECT CORPORATE BAILOUTS BY THE FEDERAL GOVERNMENT Amy Harder, Staff Writer, September 23, 2008. “Gingrich Slams Paulson's Bailout Plan,” THE NATIONAL JOURNAL, Accessed 12-10-2008, The survey's respondents overwhelmingly favored less federal assistance for the financial sector. Seven in 10 said they opposed the government using tax dollars to keep companies from failing. On top of that, 68 percent said a company faced with failure due to mismanagement ought to face bankruptcy, "even if that means investors lose money and there is harm to the stock market." Only 19 percent said the government should step in to support the company using taxpayers' dollars. The only bailout for which a majority of respondents indicated support was the one involving mortgage giants Fannie Mae and Freddie Mac, and even that garnered the support of just 52 percent of those surveyed. THE PUBLIC OPPOSES CORPORATE BAILOUTS1.THE MAJORITY OF THE PUBLIC OPPOSES THE WALL STREET BAILOUT Amy Harder, Staff Writer, September 23, 2008. “Gingrich Slams Paulson's Bailout Plan,” THE NATIONAL JOURNAL, Accessed 12-10-2008, The poll was conducted Sept. 16-21 by Republican pollster Kelly Anne Conway and Democratic pollster Doug Schoenin conjunction with Gingrich's group, American Solutions for Winning the Future. It found that the majority of respondents did not favor the government bailout, a finding that Gingrich as well as the pollsters called noteworthy because it suggests the American people are at odds with Washington on how to solve the financial crisis. As Treasury Secretary Henry Paulson Jr. proposes a "$700 billion blank check" for Wall Street, Americans want more capital investment and less government intervention, Gingrich said. 2. AS CITIZENS, WE SHOULD DEMAND AN END TO BAILOUTS AND AFFIRM RESPONSIBILITY Gary Wood, Staff Writer, November 29, 2008. “No Bailout Plan for We the People,” Nolan Chart, Those controlling our economic situation are not concerned with protecting Main Street as long as Main Street isn't willing to demand protection. We can start by demanding DC downsize and economic intervention stops. This will be extremely difficult because we are going to suffer, with or without all the trillions of dollars being washed away by our Category 5 financial hurricane. We must demand an end to the federal reserve system, paper money, and the blatant disregard for federal and state Constitutional responsibility no matter the emergencies being faced. "We on this continent should never forget that men first crossed the Atlantic not to find soil for their ploughs but to secure liberty for their souls." 3. LESS THAN 14% OF THE PUBLIC SUPPORT THE FINANCIAL BAILOUT Paul Bedard, Staff Writer, October 29, 2008. “Americans Don't Want a Corporate Bailout,” USNews.com, Sorry, Treasury Secretary Henry Paulson, but Americans want the free market and not Washington to decide which companies live or die. Pollster Frank Luntz tells Whispers that only 25 percent of voters want the Feds to bail out corporate America. In a poll for the Kauffman Foundation, apparently angry voters decidedly rejected those typically handed the nation's economic reins. Only 14 percent want a Fortune 500 CEO—like Paulson—to manage the economy, and a similar 14 percent want a lawmaker in charge. So, who's da boss? Some 56 percent said a successful small-business owner should run the shop. 4. OVER 77% OF THE PUBLIC OPPOSED THE BAILOUT AND WERE IGNORED BY CONGRESS William John Cox is a retired supervising prosecutor for the State Bar of California, October 3, 2008. “Betrayed by the Bailout: The Death of Democracy,” Global Research, Accessed 12-10-2008, The economists were not alone in being ignored by the politicians. It is widely reported that calls and emails to Congress from constituents were running as high as 300 to one against the bailout. Mike Whitney reports one analyst saying that "the calls to Congress are 50 percent ‘No’ and 50 percent ‘Hell, No’." The percentages adjusted as the stock market tumbled, but public opposition to the bailout remains strong. An AP poll only identified 30 percent of the public in favor of the bailout, and a CNN Money opinion poll found 77 percent of the people believing the bailout would benefit those most responsible for the economic downturn. Download 343.42 Kb. Share with your friends:
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