Mortgage Band-Aid Will Not Fix Economy

Let's face it, the U.S. economy is poised for collapse do to the ignorance of Congress, the President and his band of thieves. OK, maybe Congress, the President and followers are just naive, but the fact is that everyone with common sense knows that the mortgage bail-out band-aid is not going to fix anything and very few homeowners will benefit from this taxpayer give-away. The current crisis is nothing more then a warmed over version of the Savings & Loan mess of the 1980's. Congress passed another bail-out, nothing was fixed. De-regulation and privatization is at the bottom of the Savings & Loan crisis as well as the current sub-prime mortgage crisis. Had de-regulation and privatization not occurred, it is very probably that U.S. citizens and taxpayers would not be paying for corporate greed again.

Take a hard look.... did the de-regulation of utilities ( gas, electric, water, phone ) resulting lower prices or better service to we peons ( general public )....NO. Who benefited...company execs. Did banking de-regulation result in better service and lower costs...NO. Who benefited....
bank execs.

A little history will put things in perspective: 1930's depression..cause corporate greed;
Congress and the Roosevelt admistration enacted regulations; 1980's the Reagan administration started hipping away at regulations ( Saving & Loan crisis ) and the current George Bush
finished emasculated the remainder of government regulation...Sub-Prime Mortgage crisis.

Times have changed, ideology meets reality. It took the U.S. over 20 years to get back on it's feet after the 1930's depression. But things were different, WWII, ended the Marshall Plan provided 100's of millions to U.S. factories to produce goods to rebuild Europe, resulting in increasing wages to U.S. workers, who in turn, were able to save. Basically, little or no capital was exported from the U.S. TODAY, and over the past 8 years, the U.S. has been exporting good paying jobs, there is virtually no personal savings, inflation has a strong foothold, and the U.S. has been exporting capital and unprecedented rates; war in Iraq $13 billion a week, foreign oil..billions,the purchase of goods the U.S. no longer manufacturers ...billions. Bottom line... thanks to Congress and President Bush, the U.S. no longer has a financial foundation to re-build the economy on. The mortage bail, now law, is just another nail in the coffin.