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Sean

Sean DiVincenzo


Last Updated: 12/19/2009

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Gender: Male
Status: Married
Age: 32
Sign: Sagittarius

City: Surprise
State: Arizona
Country: US
Signup Date: 8/13/2005

Who Gives Kudos:


Monday, September 22, 2008 

Current mood:  angry
Category: News and Politics

This is a message that I posted on CNN.com (http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/09/20/the-bailout/)

 

Please feel free to comment, or pass this along if you agree.

 

I am a small business owner, and about 2 months ago, my business was in danger of failing.  It was in danger of failing due to a slow economy and that's it – it was not due to a bad product, dissatisfied customers, bad decisions based on greed, or bad marketing.  However, those are the very reasons as to why these Wall Street giants are failing, and now, because of their bad decisions, I, along with the other taxpayers in this country, have to bail them out?  Where was my bailout a couple of months ago? I certainly could have used a "cash infusion" when I was struggling, and I am sure many small business could have used one as well, or may need one now.  This bailout is the worst thing that we could do. It is completely anti-capitalistic, and it cannot be allowed to happen.  When companies fail due to poor decision making, greed, bad products, etc., then they fail, and new institutions rise up to take there place.  They don't get $700,000,000,000 to continue doing what they are doing.  I personally would rather see that money go to heath care, the social-security crisis, national security, or education just to name a few.  If this bailout gets passed, it is up to us, the voters, to see to it that those who approved it are no longer employed by the American people when election time rolls around.  We must say "no" to big government getting bigger, and stop the bailouts of greedy institutions that do nothing but stand on the backs of the public while they count their money.  Since the housing boom began, these institutions have done nothing to contribute to the overall well being of this country or to this country's economy – they have effectively done quite the opposite.  Their greed and careless attention to the world around them has lead to a failing economy, bad housing debts, a credit crisis, hyper inflation, and a crumbling global economy and has basically left this country teetering on the edge of a depression.  I say let them fail, and let this lesson, and warning, go forth to all those that would attempt to swindle the public in the name of making a fast buck: If you make bad decisions, and try to capitalize on greed, then you will fail, and there will be no help from the very public that you tried to take advantage of. To the politicians what would allow for this bailout: Vote yes, and your days in office are numbered.  By bailing out these companies, you are encouraging more destructive behavior on Wall Street that will only lead this country further into ruin. By voting "yes", you are telling corrupt CEOs with poor business models, ethics and practices that it is okay to make decisions based entirely on their own self interest and when those decisions backfire, the feds will come to the rescue on the public's dime, just so you can do it all over again.  It is time for government to get out of the business game and let the markets play out as they must, let the corrupt businesses fail, and let newer, innovative, and more socially conscious and responsible businesses take their place.  Maybe instead of bailing out the companies that are responsible for this mess, we bail out the public, and allow them the opportunity to invest in new companies and banks, and simply let the old institutions fade into history. 

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Loretta

 
Very well said, Sean and I couldn't agree with you more - too bad no one responsible for the voting is listening.....or cares
 
Posted by Loretta on Monday, September 22, 2008 - 9:54 PM
[Reply to this
Allie

 
i agree the bailout does not bode well for the american taxpayer. until the government understands that, not just our country, but the entire world depends upon the health of the financial sector and applies regulations to ensure it's stability, it is the only viable option to keep us afloat.
if they had any sense and the people's best interest at heart someone would have seen this coming. instead the leadership in Washington cares only for what will gain them the best interest for their bottom line.
it's truly disgusting that it was allowed to get this far.
 
Posted by Allie on Monday, September 22, 2008 - 10:48 PM
[Reply to this
JoHNNIe

 
Sean my friend...
All the facts you alluded to hyper inflation, bad housing debts, a credit crises started all before the bail out. The bail out is the ugly head rearing itself out of years of miss-management. This all started with the deregulation of vital economic needs. When we sent things like Social security, Freddie Mac, Fannie Mae into the private sector we all knew what was going to happen. In the private sector companies have two goals. The goals are to maximize share holders wealth and eliminate risk. That is what portfolio investing is all about. In essence they have done that. People got rich (not named Sean and John) ad risk was eliminated. Need proof? Venture capitalists are fat cats, and the federal government bails them out. You are 100% right. This is anti- capitalism. What ever happened to Darwinism? Survival of the fittest. You can’t adapt to a changing market place you’re out. These guys are even worse… they set the market place which they failed at. We need to go back to a Keyneistic way of handling economics. We need to look at the market in a macro not micro way. Let the old die. Viva change! Lets make the house Democratic. The worst thing to happen to the economy is 9-11 and Cheney/ Bush. That financial center in downtown Manhattan needed to be reconstructed. If not same but made an economic center again. People like you and Rosie who busted their asses for weeks and months afterwards were owned that much. And in our warring economy fighter choppers were crucial. Look who makes the Black Hawk copter. The Halliberten Company. Who is the CEO of Halliberten, none other than Dick Chaney. Who’s interest is he protecting? Not mine, not your. His. Have you looked at the depreciation of the dollar? The appreciation of the Euro and Canadian dollar. Go to BloomBerg.com to see where it finished. The money spent on the bailout we will NEVER see again. I urge you to call the company ask for investor relation, have them fed ex a prospectus. Let’s see if what retained earnings are. Open the fucking books. Thanks Sean. You got me started. My best to you and Allie.
John
 
Posted by JoHNNIe on Wednesday, September 24, 2008 - 5:38 AM
[Reply to this
JoHNNIe

 
By the way if you want to fix the problem, eliminate high paying lobbyists. It will never happen because to much to lose in their own political parties. Lets be honest here for a second. This country has been bought and sold so many times we don’t know whos in charge any more.
 
Posted by JoHNNIe on Wednesday, September 24, 2008 - 5:44 AM
[Reply to this
The Real El Diablo

 
NOT ONLY IS THIS VERY WELL WRITTEN AND RIGHT TO THE POINT IM ALSO GONNA PASS IT ALONG AND POST IN MY BLOG AS WELL, I TOTALLY I AGREE W/ THIS POINT, BESIDES WHEN OUR FREE MARKET ECONOMY WAS SET UP OVER 200 YEARS AGO IT WAS DONE SO ON THE PRINCIPLE OF LAISSEZ FAIRE, SO WHAT THE HELL DO OUR ELECTED POLITICIANS THINK THEYRE DOING, THEY SHOULD BE ROUND UP AND SHOT ALONG WITH THE PRESIDENT, I DONT CARE IF THEYRE MONITORING THIS BLOG, I AS AN AMERICAN HAVE THE RIGHT TO FREE SPEECH AND THE RIGHT TO INVEST MY MONEY WHERE I SEE FIT, AS OF NOW IM PULLING ALL MY MONEY OUT OF ALL THE BANKS I HAVE IT IN, UNTIL THIS DEBACLE IS RESOLVED HOPEFULLY IN FAVOR OF THE PEOPLE..............
 
Posted by The Real El Diablo on Friday, September 26, 2008 - 8:07 PM
[Reply to this
The Real El Diablo

 
THIS IS ONLY THE BEGINNING OF MY RANT, NOW U GOT ME STARTED SEAN, ANYWAYS THERE'LL BE MORE TO COME, ILL TALK TO YOU SOON....BEST OF LUCK TO YOU AND ALLIE, ~roger.....LAMARCA 2016
 
Posted by The Real El Diablo on Friday, September 26, 2008 - 8:15 PM
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