America’s Economic Crisis - Let’s Make an Informed Decision

Luke 14:28 says Suppose one of you wants to build a tower. Will he not first sit down and estimate the cost to see if he has enough money to complete it?

Prov. 18:13 provides this wisdom. He who answers a matter before he hears the facts–it is folly and shame to him.

^{Our bailout decision is too important and impacts us, our children and grandchildren too greatly to make a hasty or uninformed decision. We got here because of greed and unsound logic in the first place. Too many in power choose to be ignorant though information was available.}

^{Ron Paul testified about Fannie Mae and Freddie Mac’s mismanagement and the possible toll it would take on the American taxpayer in 2003. David Walker, former Comptroller General of the United States from 1998-2008 and head of the GAO has been urging America and its lawmakers that our economy would become unsustainable without making changes. Information has been available so how can we ask. “How could this happen?”}

^{Steven A Holmes published an article in the New York Times September 30, 1999 addressing easing in Fannie Mae’s underwriting guidelines.  Over nine years ago he wrote that “Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.} 

^{Information to make informed decisions for change has been available. America has got to stand up “for the people.” To provide this enormous amount of bailout money to the same people who were a major part of causing this mess for profit and greed without strict accountability and enough requirements to assure a benefit to the taxpaying people who will be left with the bill is insane.}

^{Would you lend your hard-earned money to your irresponsible friend who’s habit is to regularly spend more than he makes!?! Not without some strong provisions you wouldn’t. Not if you ever cared to get that money back.  Well the government borrows a lot of the money the country spends. What is wrong with that picture? And in what other world do corporate executives get huge salaries and bonuses for their performance  when those companies do so poorly they need bailing out? Not in my world and I am guessing not in yours. Where is common sense? How about counting the cost? How about getting the facts before decisions are made that will impact each of us?}

^{Let’s listen to and back those demanding the details to make an informed decision. Watch Congressman DeFazio speak up September 24, 2008}

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