Bush: Bailouts only allowed for Wall Street millionaires

Predictable. Unless you are a Fortune 500 company and multi-multi-multi-millionaire, you can go Cheney yourself.

Some congressional Republicans also oppose Frank’s proposal, saying it essentially forces one neighbor to pay for the mistakes of another.

“You’re telling the guy who did it right that he has to help pay for the guy who did it wrong,” said Rep. Jeb Hensarling, R-Texas. “When people are struggling to pay for their mortgages, they shouldn’t be forced to pay for their neighbors’ mortgage.

“I think about 95 percent of America is either renting a home, they own their home outright, or they’re current on their mortgage,” he said. “So 95 percent of America who’s doing it right is asked to help bail out 5 percent of America who probably wasn’t doing it right.”

OK, so explain why bailing out the richest of the rich on Wall Street was acceptable? Where the hell are the Democrats on that bailout, dammit? The Wall Street bailout is one of the worst displays of cowardice since voting for war with Iraq and Iran. The bailout was weeks ago and besides a few entertaining moments of embarrassment for O’Neil, Prince and Mozilo, the Democrats have done nothing and said nothing about this disgusting corporate welfare. They are only too happy to hide in the corner on this issue but let the poor suffer on health care, unemployment, you name it.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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