You know what? I don't even care enough to consider whether or not the feds should or should not have bailed out AIG. Or Fannie Mae or Freddie Mac or even Bear Stearns a few months back for that matter, or why Lehman Brothers apparently didn't pass muster for their own government handout.I guess the litmus test is that you must be deemed too big to fail by some arbitrary standards, no matter whatever lamebrained management practices pulled the rug out from under. Totalling now (mental math here, I might be off by a few bucks) three hundred and twenty billions of dollars spent saving corporate asses. And even more at risk of most likely soon needing rescue as well.
I also don't even care whatever either Obama or McCain were babbling about this whole mess all day long today. (Although I can't get away without at least mentioning about populist McCain now avowing his determination to clean up Wall Street and to make sure this kind of evitable economic devastation won't happen on his watch ... laughable. The guy has voted against regulation of the industry for the past twenty years or so and even as recently as March of this year was pshawing the idea. Now he's all up in arms about how much it's demanded to avoid such messes as this. How he gets away with his plethora of one-eighties I don't understand.)
Okay, so maybe I do have more anxiousness about the situation than I originally thought at the beginning here. We're all going down, though, that's really the bottom line. Think 1929 revisited.
But honestly, whatever concern I might have, I'm mostly just selfishly pissed off that hundreds of billions of our own dollars are being doled out to save the asses of these greedy corporations and the idiot Richie Rich buttwipes who have created this shambles in the first place because they were not made to behave all along.
I need my own bailing out, frankly. Where's my salvation? I don't even need three hundred billion, either. Just pocket change from that would be most excellent. If I could only have back that much of my own money I'd be cool, and most appreciative. I say let them all sink and the captains go down with their respectively doomed ships. Market consequences be damned, we're already screwed anyway.
In light of all this, plus Bush's admission that Wall Street got drunk and acted the fool, why is McCain/Palin anywhere near Obama/Biden in the polls? It boggles the mind, doesn't it?
ReplyDeleteI hear ya Doug R. I wish "we" could sink the fat cats, Buffett lost 12 BILLION, big woo. Poor RR. It is all a game to them. The rich get richer and the poor get poorer. Doug B, I hear THAT too. Should we believe the polls? Are people so stupid?? Are people so racist? What IS the freakin' problem with the majority of Americans?
ReplyDeleteScratching my head with the both of you, DB and DS. Mind-boggling the poll numbers, it makes no sense to me. I don't put a hell of a lot of stock in the polls really, but I've worked in research and marketing for enough years and conducted enough surveys to know that when this seems to be a consistent trend with the results, it has become rather disturbing.
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