The $700 billion Wall Street being pushed by President George Bush received criticism Thursday night at the corner of Mulberry and College, where more than a dozen protesters converged to discourage Fort Collins residents from supporting the controversial package.
“If young people knew how they’re getting screwed by the Federal Reserve and government spending, if everyone at CSU knew, they’d be out on this corner too,” said Carl Bruning, a leader with the Campaign for Liberty, a non-partisan group dedicated to the Constitution.
The group of community members, headed by Bruning, handed out fliers and held signs while passing cars honked in support.
Bruning said that the government had already bailed out companies like Fannie Mae, Freddie Mac and A.I.G, using more around $1 trillion and now Congress has unrightfully asked taxpayers to pick up the burden.
Both Bruning and Yankowski said they were worried about the future of younger generations with concern to paying for the bailout.
“I have my children’s and my grandchildren’s future at stake,” Fort Collins resident Cheryl Yankowski said, as she waived a sign that read, ‘The people will pay, the rich will profit.”
“College is getting so expensive now,” she said.
The general consensus among the group was not just anti-bailout, but more about ending the Federal Reserve System, the central banking system in the U.S. Bruning challenged the government to resend the Federal Reserve Act, saying that they’ve been “printing money and devaluing our dollar since 1913.”
Clyde Weltei, protester and retired University of South Florida business professor, said that he support the bailout, but with the condition that the Fed become nationalized.
He added that Paulsen is trying to bail out his cohorts, using scare tactics to get congress and taxpayers to play along. First year mathematics graduate student Matthew Niemerg said that the economic crisis stems from the Fed.
“We have a private banking cartel,” Niemerg said. “The people that should pay for this are the people who made the bad decisions, not the American taxpayers.”
Niemerg said that the government is trying to solve the problem of inflation with more inflation, comparing paper currency without commodity backing to monopoly money.
“We’re going to bail out these banks so they can go back and do it all again,” Niemerg said. “These policies don’t work. These policies are causing the problems.”
Yankowski pointed out that the economic disparity will not be a quick fix.
“It’s not a simple solution and it won’t happen over night,” Yankowski said, but he said abolishing the Reserve could help.
Bruning said the group consisted of many different political affiliations, and due to the 14-economic crisis, some had crossed party lines.Bruning said he would personally support Ron Paul because both Barack Obama and John McCain do not understand microeconomics and sound money.
“It’s proven that Ron Paul should be president. He’s the only one understands the economy,” said Bruning.
He added, “When you’re voting for the lesser of two evils, you’re still voting for evil.”
Weltei and Yankowski both said they would support Obama, but Weltei vowed if Obama supports the bailout, he’d seek a third part option. As for Niemerg, he knew before the crisis that he’d be voting third party.
“A vote for a third party is a vote for “no confidence” in the two parties,” Neimerg said.
Senior Reporter Johnny Hart can be reached at email@example.com.