Waking up to a critical Krugman column in the New York Times my stomach confronts déjà vu. In the campaign health care—now restoring the financial system. Non-experts struggle to grasp the deal: taxpayers provide most of the money for private investors to buy toxic assets; if their investment fails, taxpayers cover the loss; if they gain, taxpayers get half the profit. It is a better deal than tax policies born in the 1980s to transfer vast national wealth to the rich. Still my heart belongs to the holder of the doctorate and this year’s Nobel Prize in economics.
Aside from the words “toxic assets” (and simple math) there is a deeper concern. Sunrise November 5, 2008, revealed a certainty that the people again have a President. It is the foundation on which the Obama Administration builds. Like our country’s economy it is at risk.
More than 8 months of more than full-time volunteer work in the election put myself where my words were. It is an investment I continue to treasure.
I really need to understand. An explanation of which Barack Obama is so capable is tardy. In its absence, I conclude the bandits who earned riches taking us to crisis continue to rake in the cash. We see them as the only way out. The hostages agree to pay.
Our country’s financial system is in ruins. It imperils the best idea of government known. Not only does no one stand charged with the crime, many demand additional payment for the accomplishment. That taxpayer paid bonuses are a small percentage of the larger financial risk doesn’t matter. Foundational American values are being debased.
Speak to us Mr. President.
