Monday, February 23, 2009

Wasteful Government Spending

Every day they blow doing stupid things like this is another trip around and slightly down the toilet bowl. When we had preferred stock - it meant that the taxpayer would get paid interest on the tens of billions of dollars of money we were giving them. Now we're just getting the 1 cent dividend. In essence, they've just flat out given the money to the banks. How the hell do these people still have jobs? Why are they getting bonuses instead of cardboard boxes?

Obviously the current government doesnt have the courage to solve this problem and deal with those who've taken the economy here. I'd hoped that, perhaps, we'd elected someone and something more than this.

In the end - the reality is that John McCain couldnt really be any less effective than Obama and the Democrats are being right now. Giving them MORE money does not help. Nationalize them. Fire the executives. Seize their assets. Put a swath of them in prison. That GM isnt bankrupt yet, that Bank of America thinks it's solvent, these are fantasies being encouraged by members of this administration who dont want to face the reality - and the longer we go without doing something about it the worse it gets.

Edit: oooh - imagine that - the nobel prize winning economist agrees with me. Hey - Obama - quit being a jackass. Seize the banks - reset ALL mortgages to 4% - reset ALL credit card debt to 8% - and let the dammned thing FIX ITSELF. There's a limited time for us to be able to get out of this - and that time is before all the guys just like AIG fail as spectacularly.

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