We Had Alternatives

Linked with Dennis John Kucinich – USA.

Published on Countercurrents.org, by Dennis Kucinich, 04 October, 2008.

(The following statement was presented on the floor of The House of Representatives after Congressman Kucinich voted against the Wall Street bail out plan, H.R. 1424, the Emergency Economic Stabilization Act of 2008):

… Unfortunately, there has been no discussion of the underlying debt-based economy and the role of our monetary system in facilitating the redistribution of wealth upwards.

It is not as though we had no choice but to pass the bill before us. We could have done this differently. We could have demanded language in the legislation that would have empowered the Treasury to compel mortgage servicers to rework the terms of mortgage loans so homeowners could avoid foreclosure. We could have put regulatory structures in place to protect investors. We could have stopped the speculators.


This bill represents an utter failure of the Democratic process. It represents the triumph of special interest over the triumph of the public interest. It represents the inability of government to defend the public interest in the face of great pressure from financial interests. We could have recognized the power of government to prime the pump of the economy to get money flowing through out society by creating jobs, health care, and major investments in green energy. What a lost opportunity! What a moment of transition away from democracy and towards domination of America by global economic interests.

Years ago, in a Cleveland neighborhood, I saw a hand-scrawled sign above a cash register in a delicatessen. The sign said: “In God We Trust, All Others Pay Cash.” The sign above the Speaker’s rostrum reads “In God We Trust,” but we are paying the cash to Wall Street.

It is not as if we had no other choice but to pass this bill. (full text).

(Dennis Kucinich is a Democratic member of the US House of Representatives from Ohio).

Comments are closed.