posted on Sep, 28 2008 @ 09:45 AM
reply to post by Lurkerzrule
That's a part of the bill I'm wondering about too. If reserve requirements are lowered to zero what are the implications. This crisis is as much
about excessive leverage as anything else. If reserve requirements are dropped to zero does that not allow infinite leverage? And why in the hell
would you even put money in a bank that had no reserve requirements at all?
Anyway I'm against this on principle. Watch what comes out of any agreement because this is probably the most important economic issue in our
lifetimes. Don't get caught up in partisan BS either there are plenty of reasons for Democrats and Republicans to be against this.
Democrats should be against it because that $700Billion (almost everyone admits that this will cost much more than $700billion) will make it
impossible to fund any new programs like national healthcare, infrastructure project, or a middle class tax break, and it rewards the rich at the
expense of us all.
Republicans should be against it on principle. Part of a free market is freedom to fail. Say goodbye to any promised taxcuts. It puts government in
the banking business and to quote the bill, makes certain financial entities "agents of the government".
If you're an American, Democrat, Republican, or Independent and you care about the future of your country call you Rep and Senator tommorrow and tell
not just no but HELL NO!!! Then follow up in November by voting against anyone who votes for this bill.