Michael Moore has pretty much nailed the reasons why we have to stop spending taxpayer money on financial bailouts:
Falling for whom? NOTHING in this "bailout" package will lower the price of the gas you have to put in your car to get to work. NOTHING in this bill will protect you from losing your home. NOTHING in this bill will give you health insurance.
In fact, he points out that most of the core issue of mortgage defaults is related to people who can’t pay their medical bills.
Aaaah!! It all makes so much more sense now. No wonder we haven’t experienced this problem yet in Canada. We don’t have outrageous medical bills in Canada because we have a public health care system. We aren’t getting fleeced by privately-run institutions that won’t accept us if we don’t have a credit card.
Thank you Michael. Things make a little more sense now. Really.
As you can see, this spells out why the components of the financial crisis pose a critical election issue for Canadians (or at least they should be) for the following reasons:
- Our public-run health care system is keeping our economy stable. Privatizing it (like the Cons would do if they got a majority, based on Tony "Dr. Death" Clement’s experience at the provincial level).
- Canadian banks don’t have to worry about toxic debt waste on their books because Canadians aren’t being forced to default on their loans.
- Canadian taxpayers should NOT be funding any bailouts from federal bank reserves because it’s not our problem. Paying MBAs on Wall Street to wreak havoc on the largest economy in the world is not my idea of sound monetary policy.
- If you’re going to spend OUR money, spend it on national day care and peace-keeping missions.
I could go on, but you get the idea.
ABC.