http://www.marketwatch.com/news/story/wall-street-should-looking-bail/story.aspx?guid=%7B4A7AC707-C99B-4FA6-B2F5-F0D2FCFB9322%7D&dist=hppr
Hit and run is a serious crime
And Wall Street needs to pay for it
Not be rewarded for being the driver behind the wheel!
WASHINGTON, Sep 25, 2008 (BUSINESS WIRE) -- As the Bush Administration and Congress craft a $700 billion Wall Street bailout, LIUNA -- the Laborers' International Union of North America -- is rejecting any no-strings raid on taxpayers and calling on Congress to seize the opportunity to build America.
"Wall Street has been allowed to run wild for eight years and they've acted like pigs at a trough. They should be looking for bail, not a bailout," said LIUNA General President Terence O'Sullivan. "The most important asset in America is not Wall Street -- it's Main Street and working people. Unfortunately all Americans are stuck in the same boat with those at fault and if they sink, they will drag us down with them. But this bailout cannot be another Bush Administration, no-strings raid on taxpayers and the Treasury."
Acknowledging the reality of an economic crisis requiring emergency action, LIUNA strongly opposes any bailout that does not protect working people or does not include restraints and controls on those who caused the crisis.
LIUNA believes any bailout must include help for the 3 million working people who are facing foreclosure, protections for worker pensions which have suffered large losses because of Wall Street irresponsibility and ensure that taxpayers receive any future profit from mortgages that are bought by the Treasury. In addition, the bailout cannot come without caps on executive pay for firms that take advantage of the plan or without new regulations to prevent this from happening again -- including more transparency, limits on leverage, increased capital requirements, stricter conflict of interest protections and prohibitions on the ability of certain industries to write mortgages, such as corporate homebuilders who helped cause the crisis by pushing risky loans.
"Showering Wall Street with $700 billion will not get our economy back
