The quintet stood at the busy crossing of Ridge Road and Indianapolis Boulevard on Monday evening holding signs attacking the $700 billion bailout proposal, and drivers signaled their agreement with horn blasts and thumbs-up signs.
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The middle finger was deployed at the group just once, and not by a bank CEO or mortgage broker or Treasury Secretary Henry Paulson, but by a car full of teenagers, said group member Joe Haney, of Hammond. Although the sign-holders met through an online group supporting libertarian Republican Rep. Ron Paul for president, disgust over the bailout proposal -- dead in its first incarnation, but still alive in concept -- has spilled across political lines, Haney said.
"It's our money. It's not theirs to give," Haney said.
Not everyone felt compelled to draw a sign, but others interviewed Monday in the region voiced similar views: The economy is a mess, but the bailout is not a practical or ethical solution. No one interviewed had anything nice to say about the bailout plan slapped down Monday by an unconventional union of liberal Democrats and conservative Republicans in the U.S. House.
"I think what they need to do is stop paying these CEOs all this money," a South Holland woman said.
Steve Brown, of Steger, said he is "skeptical" of the government rescuing businesses. Relaxing outside his job at an eyeglasses shop at River Oaks Center, he said he didn't lose any money when the stock market melted down Monday, but he believes the financial pain will trickle down. Still, he doesn't think the bailout would improve the situation. He doesn't think $700 billion would help.
"Hopefully, naturally we'll hit a wall," Brown said.
Brett Korhonen, of Watseka, agreed.
"I'm always leery of government spending on bailouts," Korhonen said.
Back at Indianapolis and Ridge, the anti-bailout activists staked out stances based on ethical and practical concerns. Irresponsible lenders and irresponsible borrowers tangoed together into this mess, said John Ciskos, of Lowell. Banks should be allowed to fail, said Jason Shields, of Cedar Lake.
"I work for a living. If I make a bad investment, I'm going to pay for it," Shields said.
"It's not our responsibility to bail out people who were irresponsible," Ciskos said.
"The free market can handle itself," said Bonnie Cergizan, of Schererville.
Cergizan says federal officials should turn away from the experts who called for the bailout, and look into the Austrian economists frequently cited by Ron Paul.
Haney said the wisdom that a bank is too big to be allowed to fail is "basic fear-mongering." International banks never would let domestic banks fail, he said. Haney said the financial pain has to come sometime, and taking on $700 billion in further debt makes no sense.
"If we don't take our medicine now, we're going to have to deal with it down the road," Haney said.
