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Wall Street Bailout takes a hit

By mick

Keep the heat on Congress!

Commentary by the editor of Fight Back!

President Bush and big business were dealt a stunning defeat Monday, Sept. 29, when in a 228 to 205 vote, the House of Representatives rejected the $700 billion bailout bill for Wall Street. This is a tremendous victory for the American people.

The massive giveaway to the biggest banks and corporations has aroused real anger among the working class and others. And rightfully so. There is absolutely no good reason why working people should pay even one cent for a mess that the biggest banks and investors created.

This is the core reason why the bill was defeated. Over the next few days media pundits will wax about ideological Republicans and partisan infighting in their attempt to explain the bill's defeat. Really, all credit should go to tens of millions of people who told Congress that they were not going to put up with a bailout for billionaires. The offices of every politician in Congress were flooded with calls and emails demanding a rejection of the bailout.

The big capitalists on Wall Street were counting on tax dollars to get them out of a crisis – a crisis that was fueled by their greed and created by the system that brought them their ill-gotten wealth: capitalism. These are the same people who oppose any assistance to the millions who are facing the foreclosures of their homes. The wealthy love to talk about how great the ‘free market’ works, but when it doesn’t work for them, they want still more money from the pockets of the working class.

The House of Representatives is scheduled to reconvene on Oct. 2. There is little doubt that the advocates for the richest of the rich will advance another plan to bail out the elite who run this country. Everyone needs to raise their voices and let Congress know – the bailout of Wall Street is unacceptable.

No bailouts for Wall Street!

Make the rich pay for their crisis!

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