I’m in the newsroom on this Wednesday night, watching Wendy work on a script out of the corner of one eye … and keeping my other eye on the TV, waiting for the Senates bailout vote. It’s our top story tonight and I cannot tell you how angry I get watching this whole economic mess unfold.
I’m sure many of you are like me: You pay your bills, you make mortgage payments and you don’t overextend yourself. You live within your means. That’s not rocket science, that is just common sense. Yet, from Wall Street to people on Main street, many lived a life when they assumed the market would go up and they kept over extending themselves. Now, the crows have come home to roost … but they have decided to dump on all of us.
Here’s the Senate talking about an $800B bailout of Wall Street and the firms which abused their power and authority, putting us in this mess in the first place. It makes me angry that we are rewarding bad behavior, but even worse, we have no choice. Because the financial world has put our world in such an economic tailspin, we have no choice but to bailout Wall street in order to keep what we have.
No matter how this turns out, there is a lesson in it for us all … ourselves and our children. Credit is a dangerous thing and living just to extend ourselves is not only wrong, it’s dangerous. We need to understand that a home is not an investment to be flipped and then we take our cash and look to invest again. A home is a place in which we live and should try to pay fo rather than just paying the interest.
I’m angry about this whole sordid mess and how people who failed to follow the rules could be rewarded with more money. It’s only because things are so bad, that we really have no choice … and that makes me angrier than anything else.