When a worker can’t pay his or her credit card bill, that’s their problem. When a working class family can’t keep up with their mortgage, they are foreclosed and thrown onto the streets. But when the capitalist bankers lose hundreds of billions in wild speculation, the federal government comes to their rescue and makes the tax payers foot the bill! This is theft on a grand scale. Billionaire bankers are protected while millions of workers lose their jobs and homes.
Working people didn’t make this crisis, why should we be the ones who have to suffer? We didn’t create the housing bubble, create predatory lending practices, gamble away billions of dollars in the Wall St. casino. Now the government is creating a fund with our money to take over the bad debts of the bankers and corporate capitalists. For the rich, it’s “heads we win tails you lose,” showing once again that the “free enterprise system” is nothing more than a myth.
In response to the bailout, the PSL candidate call for the following reforms: