Reyes Votes for Bailout

U.S. Rep. Silvestre Reyes, D-Texas, has cast his vote for the Emergency Economic Stability Act of 2008. The Act looks to provide some $700 billion to rescue several Wall St. banks. The bill's purpose is based on Secretary of the Treasury's Robert Paulson's request for permission to buy troubled assets from financial institutions, in turn banks may being lending and the credit markets, presently at a standstill, can start returning to normal.

Supporters of the bill threaten that without the Emergency Act's passage wider economic devastation will spread to Main Street, affecting the lives of average Americans. These backers of the bill (surpisingly a good mix of Dems and GOPs) claim that Congress' failure to act will project the U.S. economy further into a nosedive, with little or no light at the end of the tunnel.

However opponents of the bill, again not restricted to party lines, retaliate that big government regulation is not what is going to save our struggling markets. One Congressmen stated that it places the country on "..the slippery slope to Socialism." Afterall, the taxpayers would cover the tab the Wall St. exec's have been running this entire time, thus becoming major share holders of these derailed private corporations.

Ladies and gentlemen, it is at that point where our private corporate actors in the free market economy  become nationalized (kinda like AIG) and the "free" market effectively becomes tightly controlled by Big Brother, who thanks to the Patriot Act really is watching.