This is what was on the edge of the charts of ancient mariners when they didn't have an understanding of what was over the horizon.
This is where we are going with the bail out plan. I don't agree with the hair on fire approach to spending HUNDREDS of BILLIONS of hard working American taxpayers dollars.
This is on top of the fact the keeper of the purse is a "Good Ole boy" of the system that is currently suffering from the hangover from their Dionysus like running of mortgage loans, credit and other general stupidity under the guise of businesslike practices.
Really, they need to start pulling some of these clowns( the CEO's and Board members of these corporations) in and reviewing they way they are operating under the RICO Racketeer Influenced and Corrupt Organizations Act. That is before they issue one single Lincoln penny. If these guys have defrauded people, then they need to suffer the consequences. This makes Enron look like a popcorn fart compared to a hurricane.
I don't claim in any shape of form to be a financial expert or even thoroughly comprehend the complexities of our national economic engine. But I do have the good sense to know that you cannot continue to throw money at the problem that is being created by people who have ZERO interest in the American public other than fleecing them of their hard earned wages as craftily as possible.
Congress has not released the details of the bail out as of this post.. It will be interesting to see if there is what the checks and balances are, who is going to be screwed. Other than the taxpayers for the next 2 generations and our country in general.
2 comments:
Well, it might make you feel better to know that the Federal Bureau of Investigation is conducting a fraud investigation. The targets that I have seen listed are Fannie Mae and Freddie Mac, Lehman Brothers, and AIG. I wouldn't be surprised if they find some wrongdoing. At the very least, I hope the multi-millionaires that run Fannie Mae, Freddi Mac, and AIG have to pay so much in legal fees that they are reduced to the same same standard of living as the taxpayers that bailed out their companies. Illegal or not, they ran their companies into the ground and cost the taxpayers billions. They don't deserve to live any better than the average family.
There is plenty to investigate. I hope that we actually get a chance to prosecute someone for the failings of these companies.
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