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I personally am against the bailout. I don't feel that taxpayer money should be used to rescue corporations who have reaped the benefits of years of deregulation but behaved in a completely irresponsible manner. The crash was really not as surprising as some people think. Financial companies and banks have falsely inflated their values for years by overextending themselves and making poor business decisions (i.e. offering mortgages far beyond what people can afford). Eventually the bottom was going to fall out, but as long as the CEOs were taking home their ridiculous paychecks, they didn't care what was going to happen in the future of the company. I don't believe that taxpayers should have to shoulder the burden for the government's lack of oversight and the corporations' greed. Especially since the bailout really is only benefiting wealthy Americans, since most Americans' bank account dollar amount falls within the amount that is insured by law.
That being said, I do not share your optimism that Americans can use Congress and the committee system to bring about change in Washington. Those same Congressmen are the ones who have been taking money from the companies who have opposed regulation all these years and have been profiting along with the companies. As long as special interests and lobbyists are allowed to give money to our elected representatives, our elected representatives will continue to represent the industries, not us.
But that's just my opinion.