Pat Dollard

Tweet

Lets take a trip in the way back machine….

My father was the type of person who believed that every action, be it good or bad, was meant to teach you a life lesson.

When I was about 20, I fell in love with a sports car. Back then , I was making a whopping 7.50 (if that) an hour. There were other cars available that I could have bought, less expensive. But me, thinking “I would look SO good in that” idea over road my being smart.

I couldn’t afford the car, so I literally groveled and begged my father to lend me the money to purchase this five thousand dollar car I couldn’t afford, because it was a head turner, and I HAD to have it..

So my dad being the CEO and owner of the “First National Bank Of Dad” lent me the money.

I lived with my parents at the time I bought this “Hot Car“.
They new when I was home and at work. They knew when I was going out with friends.

Every pay day, my father took his portion of payment, leaving me with only enough to pay for gas. I had no money to go driving around, “Cruising”, or party money to go our with my friends or even a dime to buy a thing.

It pissed me off. I used to think, how dare my father take my entire pay check. I have a life too. Here I have this “Hot Car” and I can’t go anywhere to show it off or look hot in it. It looked good in the drive way for a very long time.

When the car was paid off, I was on my way to “looking hot” every where I went. I partied with my friends and didn’t save a dime of the money I made.

One day, the transmission went out and I was forced to hit up “The First National Bank Of Dad” again. He begrudgingly lent me the money to have the car fixed and once again, every pay check went to him leaving me pissed off again.

I paid it of in a shorter amount of time and was on my way again. Three weeks later, after paying my father back, the rear end went out. NOW, rather then save the money I made, from the job I had at the time, I spent every dime on crap I didn’t need. Mainly partying with my friends. I didn’t save for a rainy day.

I went to the “First National Bank Of Dad” one more time and asked for the money to fix the car once again.

This time, I was turned down.

My fathers exact words:

The BANK is CLOSED! First, you bought a car, you couldn’t afford. When it was time to pay that bill, you were pissed off at the fact that I wanted my money back that YOU borrowed.

When you paid it off, rather then saving your money, you blew it and expected me to help you out. Being your father I did.
Now, you need more. “The Bank Is Closed”. Not because you were pissed off that I took your entire pay check to get MY money back, but because you haven’t learned your lesson. Im not going to live forever. Im not going to be here every time you need to be bailed out. If you don’t learn NOW how to take care of yourself, you never will.

Looking back, I’m damn glad my father didn’t bail me out again. I learned a very valuable lesson that year.
I also gained more respect for my dad because of that.

The car sat for weeks, in an ex boyfriends drive way until I could afford to fix it. When it was fixed, I ended up selling it to a wholesaler because it wasn’t worth 500.00.

All that money, all that work, all the aggravation, into something I thought was “Hot”, down the toilet. I never bought anything again that I couldn’t afford.

I wish we could apply that lesson to our own congress in regards to all these bailouts. First Enron, then AIG, then the automaker bail out, and now the housing bail out.

We need to tell congress “The Bank Is Closed”. How are they ever going to learn their lessons? Not only that, it would teach Congress a lesson in how to RESPECT the American taxpayers and the money they are so inclined to just piss away.

Now we have the socialist partys, oops, Democrats, former attorney for ACORN, supporting this deal.

Lets also point out the Democrats cover up of the problem in the first place…

September 28, 2008

WASHINGTON (AP) – Democratic presidential nominee Barack Obama said Sunday his Republican rival deserves no credit for helping to forge a tentative agreement on the $700 billion bailout of Wall Street.
Instead, Obama said he deserves credit for making sure the proposal includes safeguards for taxpayers. Obama said he is inclined to support the bailout because it includes increased oversight, relief for homeowners facing foreclosure and limits on executive compensation for chief executives of firms that receive government help.

“None of those were in the president’s provisions. They are identical to the things I called for the day that (Treasury) Secretary (Henry) Paulson released his package,” Obama said. “That I think is an indication of the degree to which when it comes to protecting taxpayers, I was pushing very hard and involved in shaping those provisions.”

The safeguards were supported by many in Congress, including Democrats and Republicans.

Republican presidential nominee John McCain announced last week that he was suspending his campaign to focus on the crisis.

Asked during an interview on CBS’ “Face the Nation” whether McCain deserved credit for bringing lawmakers together, Obama said “no.”

“Here are the facts: For two weeks I was on the phone everyday with Secretary Paulson and the congressional leaders making sure that the principles that have been ultimately adopted were incorporated in the bill,” Obama said.

Congressional leaders were working through the weekend on a package to bailout troubled Wall Street firms. They hope to have a House vote on the measure Monday, with a vote in the Senate coming later.

Under the plan, the federal government would buy mortgage-backed securities and other bad debt held by banks and other investors. The money should help troubled lenders make new loans and keep credit lines open. The government would later try to sell the discounted loan packages at the best possible price.

“My inclination is to support it because I think Main Street is now at stake,” Obama said.

Obama also said the next president should work to overhaul the regulatory structure of Wall Street, though he offered no specifics.

“We have to remember how we got here, not so much to allocate blame as to understand the choices that are going to face the next president,” he said. “Unless we update our 20th century regulatory framework for a 21st century global financial system, then we are going to continue to be vulnerable to this kind of situation. And I think the next president has to come in with a very strong package of reforms.”