Unbelievable. I just read where Bush is going to ask for $700,000,000,000.00 to bail out Wall Street and the banks that made all those unbelievably bad loans. Where’s the free market now, George? Where’s that staunch “no bailouts” stand? Where’s that personal accountability? All I see is a bunch of incompetent groups and organizations being given a get out of jail free card. Where’s all the talk about what a disincentive a bailout would be in terms of more responsible conduct by in the future? And didn’t you say a few weeks ago that the economy was already better? No danger of a recession, right?
It makes me sick that all these criminals and frauds will be rescued on the straining backs of the rest of us. Now, they can proceed with their next get-rich-quick scheme, confident that if things go wrong, the politicians will cave in and save them again. This is like patting the kid who got caught cheating on the head and giving him an A.
A trillion here for a ridiculous occupation of Iraq, several hundred billion for Fannie Mae and Freddie Mac, eighty-five billion for AIG, seven hundred billion for the Wall Street slush fund…pretty soon you’re talking real money!
I don’t see where any of this is going to be funded by all the billions of profits these people pocketed while their scheme was working. Where are the consequences?
To paraphrase Daniel Burnham, make no small screwups. You have to screw up on such a colossal scale that you are “too big to fail.” Then you’ll be OK no matter what.
How many social services could be provide for the $700,000,000,000.00 that’s going to be spent to keep the Dom Perignon flowing on Wall Street? I assure you, it’s flowing right now. How much has the market gone up since this was announced? It’s like a big huge party for all the investors who caused this crisis in the first place. Now they’re profiting from the bailout, too.
Makes me puke.
