There’s been a great deal of talk describing the recent economic rescue package as “corporate welfare,” and, in part, it certainly is (Its also been a tremdous failure so far, by the way). The people involved in making, selling, and trafficking these loans should be punished by the loss of their jobs and not saved by the taxpayer. However, there [...]
So now what?
If you believe the mainstream media, the world is ending. If you believe the Wall Street Analysts (who, remember, stand to benefit from the bailout), we ignorant voters have poisoned our representatives minds and are causing a financial meltdown. If you believe the Messiah, then you believe that somehow raising FDIC account limits [...]
Much to my surprise and excitement, the United States Congress voted today to defeat the $700 billion bailout plan proposed by Treasury Secretary Henry Paulson. Just last night, I was trying to describe the scope of this proposal to my 10-year old, and this is the best I could come up with: put $1 million [...]
Its no secret that I am against the proposed government bailout of the financial industry. I was against against the takeover of Fannie Mae and Freddie Mac. I was against the takeover of AIG. I applauded when the FEDS “allowed” Lehman Brothers to go bankrupt.
However, I figured that, by holding this position, I was in [...]
You may have noticed that I have been quiet for several days now. Partially, that was because I really didn’t know what to say about the latest foray into socialism of our great nation. Just when I thought they had caught on, here we go again…
The government is now going to spend $700 billion to bail [...]
I suppose I was a bit hasty when I praised our government for having sense enough to stay out of the free market by declining to bail out Lehman Brothers. Now, they have decided to take over the world’s largest insurer, AIG, with an $85 billion loan from me and you in exchange for an [...]