They Have Lost Their Minds!
The Federal Government is going to bailout AIG and Fannie/Freddie. This is nightmare. Is this even legal? President Bush, McCain, Obama, Senators, Representatives have all lost their minds!
It is important to understand exactly what is happening. The government is using your money to buy the bad assets of various companies. Yes, they are calling it a loan. No, the loans will never be repaid because the underlying assets are not worth anything. How do I know? If they were worth anything the company would not be in trouble in the first place!
This is an inflationary nightmare that encourages thievery and/or mismanagement by corporate insiders and just postpones the inevitable bubble that MUST take place. Have any of these goofballs ever even read about the basic principles of economics? Automakers will be next and eventually it will make its way into inefficient technology companies. Higher taxes, bigger debt and higher interest soon to follow.
Besides, who gave anyone permission to spend my tax dollars in a bailout of this sort? Michelle Malkin calls it the Death of Fiscal Conservatism. Newsmakers says Get Ready for an Enormous Tax Bill.
The democracy will cease to exist when you take away from those who are willing to work and give to those who would not. Thomas Jefferson
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess of the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. Sir Alexander Fraser Tyler
“When a self-governing people confer upon their government the power to take from some and give to others, the process will not stop until the last bone of the last taxpayer is picked bare.” Kershner’s First Law.
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Filed under: Democracy, Economy
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You’ve just got your panties in a twist because you’re realizing there’s no god.
Too bad you have a blog – because obviously you have no education.
Go RUSH!
I think you are right…..All these started mainly due to the corporate fraud and due to share market…going on an increasing spree and then suddenly dropping..Although bailing out big companies may not be a good one,I think there is no other way out…
You have a point. Ever since I’ve watched Fahrenheit 9/11 (absolutely great movie, hilarious and heartbreaking) I’ve been more on the look-out for government idiocy.
Thinking about the whole picture, it might sound outrageously absurd that the people’s taxes will be used to support the crashing companies (which are really the one to blame for this recession because of their mishandling). But then, maybe, just maybe, the government is stuck between the proposition of letting AIG (the nutheads) crash or save the thousands of people employed in it, and also the families too that are depending on these jobs. Well, I guess the right decision is to give them a ‘loan’ however ironical it might look.