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The Tampa Tribune

Published: September 24, 2008

Nothing But Socialism

Regarding the recent historical bailout by the U.S. government of private corporations:

When a private enterprise is taken over by a socialist (communist) country it is called "nationalizing." When a capitalist county does it, it is called a "bailout." In either case it's socialism!

Using this labeling system, the government can take over (excuse me, bail out) our very sick health care system as a single-payer system ala Canada, and we don't have to call it "socialized medicine." Why even the R's will go along with this.

FRANK GEGUNDE

Tampa

Not Worth The Price

We are fools to believe that the proposed $700 billion loan package, intended to buy bad debt from the financial sector, will dig the United States out of trouble. Even now Bush and Paulson are proposing to expand the list of bailout recipients to include foreign banks as well. Whatever happened to "Country First"? Or, maybe that slogan is for the "little people." Consider the inevitable fallout from the open-ended Wall Street bailout plan as proposed:

The increased national debt will cause a falling dollar, which in turn will inflate the cost of food, gasoline, and other necessities. The new federal debt, in the form of Treasury notes, will require a high interest rate in order to attract prospective purchasers. These higher interest rates will also drive more homeowners with subprime mortgages into foreclosure. China will own us!

Now, I ask you, is this bailout worth the price? The answer is no!

KENT FAST

Tampa

Greed, Pure And Simple

The current economic crisis we are enveloped in is a result of one thing: greed, pure and simple. While the complexity and scope of the entire issue goes much deeper than could be explored in an op-ed, suffice it to say that, regardless of whom one blames for this mess, be it politicians or corporations, greed is what got us here - greed in every form and at every level of society.

If this ideology of government bailout becomes prevalent in our society, we will quickly be headed down the road of socialism, where everything will eventually be controlled by some of the very people we blame for this mess. There is a fine line between the pursuit of happiness and greed for the love of money, and unless we begin learning to distinguish between the two, we will continue to spiral further down towards more calamities such as this.

ERICK WESTLY

Brandon

A Billion Here, There

The Bush administration has proved, beyond a shadow of doubt, that Everett Dirksen was right: "A billion here, a billion there; pretty soon you're talking big money." McCain will probably need to convert those numbers to trillions.

ROBERT TURNER

Dunedin

Won't Stimulate Economy

The Paulson-Bush plan will not stimulate the economy. It protects the profit-centered banks and their wealthy stockholders while the taxpayers pick up the tab. It's the same old tune. The following plan will jump start the economy, restore value, and fix the ballooning unemployment rate. The U.S. Treasury must offer to the general public a Treasury Department direct mortgage option for all single-family residential homeowners to refinance their homes at a maximum interest rate of 2 percent; which must be refinanced in seven years; and all future single-family mortgages through banks must be restricted to a maximum of 2 percent.

That's all there is to it! No additional trillion-dollar debt. No more fat cat bankers running the world.

BYRON DEAN

Brandon

Smoke And Mirrors

Do you think the Republicans are feeling embarrassed right about now? President Bush and his appointed Treasury secretary plan to spend $700 billion in tax dollars to buy all the risky mortgages held by banks, on top of the $200 billion to bail out Freddie Mac and Fannie Mae, not to mention bailing out insurance giant AIG - all privately owned companies.

The Republicans always campaign by stating that the Democrats want too much government oversight. We now see what the Republican philosophy has gotten us-another multibillion dollar bailout. Which brings us to another Republican smoke and mirrors trick: always saying the Democrats are socialists. Yet now it's OK to spend billions in the largest socialist action in American history. Can you see through the smoke and over the mirrors yet?

TIM CURTIS

Lithia

No Golden Parachutes

As part of this "bailout," any chance someone might suggest that the "management" of these companies will receive no stock options (retroactive 6-12 months) and no golden parachutes. Whoever doesn't agree to these terms his/her company will receive no bailout. Sounds pretty simple, and boy would that give people some sense of fairness.

The word is "accountability," for past sins. But sadly, you will hear nary a word of that. The people who got so rich by being so incompetent will reap the biggest "golden bailouts" of all. And the beat goes on and on and on.

MIKE BABNIK

Clearwater

Better Use Of Money

This is not a greed-driven request.

My request for support is to help legions of deserving, good hard-working family people, not poorly run, horribly managed gargantuan corporations where all types of tomfoolery can be hidden and whitewashed.

LLOYD H. HALL

Tampa

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