Kevin Lamson

Don’t Blame Wall Street - At Least Not Completely

If "Wall Street is Bankrupt" then why are the same executives and directors still running the companies. When companies go bankrupt their management is ousted and replaced by trustees. Whose duty is to operate or liquidate the enterprise for the benefit of its creditors. For soem reason Hank Paulson's 4 page "bailout" plan left his old Wall Street cronies in charge of their respective companies as well as the shareholders keeping their interests intact. I'd like this plan if I held $500 Million in Goldman Sachs shares as Hank Paulson reportedly holds.
I would like to personally like to applaud each and every American who called or emailed their congressman or women and expressed their outrage with Hank Paulson's 700 Billion bailout plan and/or the various ad hoc amendments that were made by Barney Frank and Company. This so-called 700 Billion Bailout did not address the root causes that resulted in our economy taking on water and what is needed to fix those problems.
The only people who were touting this 700 Billion bailout appeared to be Wall Street and its televised shills and of course our always misinformed President, Mr. Bush. Americans have responded to this fear mongering by Wall Street and its friends in the media by saying NO to this bums rush bailout. Now we will see what kind of crazy new claims Wall Street will make for "imediate" releif to socialize its loses on the American taxpayer. Remember a good recession seems to weed out the dead wood. Maybe its time for a wholsale change of who is running Wall Street and this country.