If the answer is no, then I don’t want to hear a peep out of your pie hole about the financial crisis–or lets call it the hysteria about the financial crisis. You are not qualified to even have an opinion on this mess. Learn to balance your checkbook then come back.
I’ve been watching the so-called melt down from a distance (I’m working in Europe for the last two and one half weeks). The truth of the matter is that we had a bunch of banks and investment firms playing blackjack with money they did not have and were counting on the U.S. Government to bail them out when they lost their reckless bets. Now the Bush Administration and the Democratically controlled House and Senate want you to believe that if you don’t give the Secretary of the Treasury unlimited authority to spend your tax dollars that our financial world will collapse.
While there are real problems this kind of fear mongering is irresponsible and wrong. This is the ultimate inside trader scam. Politicians, government bureaucrats, and bankers/wall street types have been passing money back and forth in a sort of ponzi scheme. Why do you think companies like Goldman Sachs and Lehman Brothers–also largely controlled by Democrats–were giving so much money to Capitol Hill, especially to Democrats like Barack Obama and Chris Dodd? To help them “fight” for the little guy? Hell no. They have used the populist bullshit line while ensuring the fix was in that they could reward each other and grease the skids for the kind of inside deals that made folks like Jon Corzine, James Johnson, and Franklin Raines wealthy. Well guess what? The gravy train may be over.
Unfortunately several Republican leaders have bought into the end of the world nonsense. And some Republicans have made out in this disaster as well. But the hysterical warnings are getting a bit bizarre. Daily predictions of doom look silly in the light of real financial news. Check this out: (more…)
