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Friday, September 26, 2008

Why Bad Legislation Gets Passed

There is legislation like the bailout packages for Wall Street and the Automobile Comapanies that makes you wonder what is going on in congress that would make them want to pass something that wastes so much money.
The bailout for Wall Street is like someone going to Las Vegas and losing all their money playing the slots and then the government steps in with a program that gives them back all the money they lost. That is exacty what the Paulson's bailout package does and it has so little chance of working. Does a program like that make any sense? Well Congress is close to passing it.
Gm the worst managed company in American History with stock holders and a board of directors that are totally negligent is likely to get billions from the government. Gm should be allowed to go bankrupt to get rid of all the shit and then a government rescure package could be put together.
How can such bad programs and legislation get passed by congress? Lynn Turner,former chief accountant for the Securities and Exchange Commission said,"The way Washington works its the lobbyists and the executives who hire them that get what they want. And its the taxpayer who usually ends paying and getting fleeced." Some poltical system!!!!!