Bailout bill protest in downtown Atlanta
October 2, 2008 at 3:45 pm by Joeff Davis in NewsNearly 25 demonstrators gathered outside the Federal Reserve Bank Building at 10th and Peachtree today under the banner “Bail Out the People, Not the Banks” in protest of the controversial “economic recovery” package that was approved 74-25 by the U.S. Senate last night. The U.S. House of Representatives is scheduled to vote Friday on the package. Supporters of the legislation, including Sens. Barack Obama and John McCain, threaten economic collapse if the bill fails, claiming its passage is essential not just for people on Wall Street, but also for folks on Main Street.
But these demonstrators weren’t buying it. Chants of “Stop Corporate Greed Fund Human Needs”, “Money for Main Street not for Wall Street” and “Bail Out the People Not The Banks” were punctuated by honking horns from passing vehicles in support of the protesters.
“I oppose bailing out billionaires,” said demonstrator Ingmar Smith. “We have been trying to get basic health care funded for 20 years but as soon as Wall Street needs money its available in a week.”
Demonstrators outside the Federal Reserve Bank Thursday afternoon
State Sen. Vincent Fort, D-Atlanta, was also among the protesters and said “the bill in its present form is bad. It rewards the predatory lenders and rip-off artists with $700 billion and it does nothing for homeowners who face foreclosure.”
Another demonstration called “Cash for Trash Fire Sale” is planned for tonight from 6-7:30 p.m. at the same location. Demonstrators, according to a press release, are encouraged to “bring some garbage/plastic bags with something in them. We will hand our Wall Street ‘trash’ (derivatives, etc) to a ‘Federal Reserve Officer’ in exchange for ‘cash.’
(Photo by Joeff Davis)
October 2nd, 2008 at 6:14 pm
What’s not to love about the bailout?
It still contains:
- no justification for the $700B figure, it came out of thin air
- Treasury Sec., who in a previous life was an instigator of the problem, gets way too much control with no oversight – he’s just going to bail out his buddies
- executive compensation is not addressed in a meaningful way
- help for homeowners in trouble gets lip service only
- the costs fall completely on the backs of the – now and forever future – American taxpayer – not at all on the people who created this mess
- the incentive is for more of the same since there will probably be another bail out if we do this again
- no one can effectively explain how we got into this mess nor how the bailout will get us out of the mess
Looks great to me!