Yes To Bailouts, No To Thinking

Sometimes I truly believe that is what is going on in our government. Has everyone just decided to leave logic and reason at home for the past few weeks? Because I surely don’t see many good decisions being made. Not that a lot of good decisions have been made in the last 8 years but nothing quite so drastic as what seems to be happening with the economy and our lovely tax-payer dollars today. I was having a lovely ride to work today on the bus until I happened upon this article in the New York Times.

First of all I am absolutely incensed that Paulson believes that the money from the bailout should only go to “investment” in financial institutions rather than “spending” on rescue efforts.” Well quite frankly Mr. Paulson, you and your Wall St cronies fucked up big time, pardon my french. Why should we allow you to fritter out tax dollars away giving these guys golden parachutes and money to “invest”? I’m sorry, I think you’ve done a lousy enough job screwing up our economy thoroughly, I think it’s about time we gave back to the people who are losing their homes. Sure, I believe that one should not invest in something one cannot afford but let’s be realistic, we bailed out Wall St for making poor investment choices, which I would like to mention were based on these same mortgages that we are not allowing to be refinanced. So basically what Hank is telling us is that it is ok for banks to make stupid decisions, let’s not hold them accountable but average people who make those same stupid decisions should be held accountable. Right, I’m glad that we’re all on board with this privatized profits and socialized losses system. I love it. Perhaps I am a little too jaded on this topic but I have to say that this editorial did make me happy that at least someone else thinks Paulson’s thinking is flawed.

Although I have to say I was at least happy to note that Paulson does not want to bailout the auto industry. While I don’t like most of what he has done, in this is one instance I do agree that bailing out the auto industry is a bad idea. I actually think the op-ed by Mitt Romney was a really good take on Detroit. I certainly think he made a really great argument for what should actually be done that would be effective.

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