Bono talks about the $700 billion bailout package:
“I am not qualified to comment on the interventions that have been put forth. I can assume these people know what they’re doing. But is is extraordinary to me that you can find $700 billion to save Wall Street and the entire G8 can’t find $25 billion to save 25,000 child who die every day of preventable treatable diseases and hunger. That is mad. Bankruptcy is a serious business. And we all know people who have lost their jobs this week, I do anyway. But this is moral bankruptcy.”
I agree with Bono on both counts: I’m not qualified to comment on the bailout yeah or nay, but I do think it’s amazing that we can shell out a ton of money for all these bailouts but we can’t spend a much smaller sum of money to save lives.
It’s much more complicated than this, but saving lives seems more important than saving the economy.
2 thoughts on “Bono on the Financial Crisis”
If the G8 is only looking for 25 billion, think what that 700 billion could do for those in need. And no, I don’t think Wall Street falls into the category of “those in need”.
Thank you for putting up this post. I hadn’t heard Bono’s comments on this topic, but I also believe that they are spot on. It is more than unfortunate that the Wall Street Banks have the ear of our Federal Government, while the cry of the marginalized is drowned out.
To me, this action simply affirms the idea that our faith communities are the hope of the world, not our government.
I really like your site and will be back again! Thanks…and stay warm.