Wall Street banking coup

As a progressive, a liberal, and a democrat, I cannot support Geithner’s plan

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AllentownJake says; I order these in importance to me from least to most with 1 being the least important and 5 being the most important.

1) What do the democrats get out of this plan? As part of getting this plan has a deal been struck with the other side to support it? As a party are we taking all the risk? We all know a few calls from these banks to their republican friends could provide enough cross party support to make this plan widely supported.

2) So what are we going to do about the rest of the economy. Throwing a trillion dollars into the banks? What does this do for Detroit and other businesses that actually make things instead of manufacture paper and computer entries.

3) What concessions have we gotten concerning other issues. Are these banks going to suddenly be more friendly or at the least be less vocal about their oppositions to unions and other progressive causes? Do we get the EFCA out of the deal and less opposition to regulation? Or are they going to use their coffers to finance campaigns against the very things we hold most dear. Our we essentially financing our opposition. We got no concessions on executive pay out of this or anything else I can see. It just looks like a giant gift to the enemies of the causes I believe in.

4) What kind of precedent does this send to the people that orchestrated this mess? Seriously they have just essentially robbed the American people and the institutions they were entrusted and not only are the going to get away with it, in a lot of ways they are going to be rewarded for that behavior. Rewarding bad behavior is not good for society.

5) We only get one shot at this. If this fails, we don’t have the resources to get a do over. If this succeeds in the short term but only allows the bad guys to do the same thing again 2-3 years later what have we really gained? I didn’t vote and volunteer to have a Bill Clinton. I voted and volunteered for an FDR. I want reform not a temporary uptick in the economy till the bad guys find a new way to rob us blind again. LINK