What’s In A Name
It has been brought to my attention that the title of the last entry may have been mistaken:
Perhaps it should hvae read Financial Crisis or some such… bailoutcarries with it many connotations that can confuse. It implies the “rescue plan” was just going to throw money at a problem and save some companies from failure and get nothing in return. The plan actually had features in it that would look more like an investment… distressed assets purchased now at a discount might possibly be sold for a profit in the future, so there was an upside.
But, I wasn’t so much implying that aspect of the Congressional effort.
It was a BAILOUT in the sense that certain members of our Congress got us into this mess, by interfering in sound business credit practices and essentially forcing companies to extend loans to many people who were not very likely to be able to repay those loans, were trying to cover their tracks and bail out the results of those ill-fated programs. They were bailing themselves out!
To add insult to injury, these proponents of such programs are now claiming THEY are the right ones to solve the problem! It is absurd to look to those who got us into this situation for ANY solution. Talk about fox watching the henhouse…
And I am amazed at the gaul of these same individuals to “look us in the eye” and blame others. Of course, it is a typical “look at that” kind of childish effort to distract us … to keep us from looking at the actual problem… while moving the focus of attention AWAY from themselves.
These CHILDREN have no business running our country.
