THE BLOG
10/26/2008 05:12 am ET Updated May 25, 2011

What's Left Without Wall Street? We, The People

Who knew that being poor would actually help me one day? Well, today is that day.

You see, I've always had to worry about rent and then, luckily, mortgage payments. I work in entertainment; we don't have 401K plans, we have a union and a retirement plan but many of us don't rely upon it because you have to pay in to get back, and employment is seasonal at best for most in the business. Granted that union and retirement plan, health plan and such are tied to Wall Street, but most artists don't really pay attention. Our downfall, but true, it's why there's business managers, agents, etc and why so many artists so often get screwed financially.

So while I've been scurrying to pay the bills every month it appears my moneyed friends have been busy doing all kinds of things and some of my poor friends are equally as busy buying things they couldn't afford. Hey, I'm right there, I have credit card balances, a second mortgage. And I know that the Chinese probably own my mortgage now since we bailed out Freddy and Fanny with money from China. But...

As I hear talk of bail outs, I think of all of my friends and family and ask who has ever bailed us out? Right now, if I miss a payment, who will pay off my $200K mortgage? Who will pay off my credit card balances? The White House? Doubtful. When my friend was in default, who eased his pain, made him sleep better as foreclosure notices arrived and credit card companies began calling six or more times a day? Who bailed him out? He did.

So why, I ask, are we going to do it? Truly. I've thought a lot about this, and I've interviewed experts on my show on radio, listened to them talk, watched the five hour meeting on the Hill o September 23, 2008...and I say, no. No bailout. You want to give somebody money to the tune of trillions of dollars, give it to the American people...Pay off some mortgages, wipe out some debt. The money flows back to Wall Street, to credit card companies, Americans have more money to spend..everybody wins.

But this way we all lose for decades to come. $1.2 trillion all told will get us what? --About $4K each in debt, well, in more debt. Add that to the one trillion for the war, and the $10 trillion national debt already and, well, now you're at about $40K for every American, each and every one of the 300 million of We, the People. A credit card with a $40K balance, minimum monthly payments...well, you do the math.

And that's just it: The math. First of all, we don't have another trillion to bail these people out. Second, if we are going to socialize anything, why bad Wall Street debt?

I had a 26 year-old caller on my show, when asked why we should do this, said, "without corporations what do we have left?" It staggered me. It staggered my listeners. Literally stunned us all. Without corporations, what do we have left?

We, the People, that's what. Have we forgotten what America is? It's not Nike, Puma, WalMart, AIG, Lehman, Microsoft, Haliburton...it's not faceless, nameless, soulless entities that exist only on paper or in concrete monoliths or on logos. We all don't work for the American company we are part of the American union.

It's in my heart, in my soul, to rescue people, animals, things with souls, with hearts, and eyes. Rescuing businesses whose only real product seems to be more debt, more pain, more money management mishaps, seems as soulless as the entities themselves and the people whose jobs it was to oversee them.

America is more than a monetary system. If it's not, it should fail. If America is not a place of people, of humans, of hopes and dreams, of lives and hearts, then what is it? Care for them first and foremost.

We act as if money went away we would all throw everyone in to the streets, deny them food, shelter, the basic human needs. Oh wait.

And that's it, the fear realized. We've become monetary beings, even helping each other has a price. And if someone can't pay in one way or another, many don't help (unless we are legislated in to doing so like hospitals). The idea of the benevolent American or America seems all but a dream. Benevolence costs money.

Again, I am not Wall Street wiz. I'm just an American that sees others suffering every day, or at least worrying, stressing, doing without, Americans with no real leadership or inspiration, depressed, mostly overweight, broke or nearly broke Americans. And nothing I've heard yet helps any of them or me. I'm being told what's good for Lehman, Sachs, Lynch , AIG and others is good for me, but somehow, I just don't buy it.

At least not for $700 billion plus interest.

Instead, I'd rather socialize caring for each other. Let's pay off debt of individuals, mortgages, HEALTH BILLS. If we are to spend trillions, how about we spend it on things we can see, touch, and feel, each other, instead of those giant ledger sheets in the sky.