|
| | | | Yeah. This about sums up how I am feeling right now.
Can I Bailout from the Bailout?
So much for socialism.
By Mark Corallo
The Dow plummeted. Let’s say that again: The Dow plummeted. So did the S&P. So did NASDAQ.
What happened? We did the bailout. We were told by Nancy Pelosi, Barney Frank, Barack Obama, Joe Biden, Chris Dodd, President Bush, Hank Paulson, and Ben Bernanke that if we didn’t do the bailout, the stock market would plummet. Wall Street would collapse. The sky would fall, fire and brimstone would rain down, and life as we know it would come to a sudden and disastrous end.
In fact, we had to do the deal by a week ago last Friday, or else. That deadline came and went as principled House Republicans stood against it because the hard-working, responsible, fiscally conservative taxpayers didn’t deserve to get screwed by the government in favor of a bunch of greedy cheaters. (Interestingly, 94 liberal Democrats voted no because they felt that $700 billion for Wall Street was too much unless we took a few hundred billion and earmarked it for their constituents — let’s just call them the pork caucus). At any rate, we woke up Saturday morning and the sky was still overhead.
So after a week of “improving” the bailout bill (read: infused it with pork), Congress passed it last Friday. And the market went down. Immediately.
We woke up Monday morning after a weekend of jitters and the market is downer and downing more.
Americans were divided on the bailout. Those who paid their mortgages and their taxes (the vast majority of the American people) were against it. Those whose greed had finally caught up to them — homeowners who never should have been given a loan to buy bigger houses than they could afford; loan companies that got rich all the while knowing they shouldn’t have made the loans to the people who couldn’t afford them; Wall Street magnates, Fannie Mae and Freddie Mac executives and investment bankers who got filthy rich by buying the bad loans and selling them as securities — were for the bailout. I think that pretty much says it all.
The other people who were for the bailout were House and Senate Democrats who for over 10 years stood in the way of any tightening of the regulations on Fannie and Freddie — the root cause of this disaster. Don’t take my word for it. Just ask Bill Clinton. He wasted no time throwing the Dems under the bus on September 25 when he said on Good Morning America, “I think the responsibility that the Democrats have may rest more in resisting any efforts by Republicans in the Congress, or by me when I was president, to put some standards and tighten up a little on Fannie Mae and Freddie Mac.” (Note to John McCain: Bill and Hill really want Barry to lose so that they can run against you or Sarah in 2012. Bill gave you a rhetorical club with which to beat your Democrat opponents over the head and you dropped it. Not too late to pick it up).
Of course President Bush and his crack economic team, Hank and Ben, were for the bailout because they are incredibly arrogant people. The problem is that they are also incredibly wealthy people who have fabulously wealthy Wall Street friends who in fact were in need of the bailout. I mean, can you blame them? Who wants to lose their fabulous beachfront estate in South Hampton? Note to Hank and Ben: Fear not, you’ll still be on the guest list for all those Hampton lawn parties this summer.
So here we are, the American middle class, watching what little we have in our individual portfolios go into the toilet (yes, most of us do have some sort of retirement plan because we are smart enough to know that even if Social Security was going to be there for us when we retire, it wouldn’t be enough to cover the dog food). We know that rewarding bad behavior leads to more bad behavior. It’s like giving a puppy a treat after he pees on the rug or giving your teenager a car after the first time he comes home drunk. We, who actually raise our kids ourselves (meaning we don’t employ nannies to take care of the little darlings while we go off to our power jobs — although the free Spanish lessons would be nice) know something about personal responsibility and bearing the consequences of bad behavior. We who actually go to work every day without delusions of summers on the Vineyard with John and Teresa also know when we are getting screwed. And we are getting royally screwed right now.
We join the Armed Forces and defend America while the other guys go off to Harvard Law. We go to Church on Sunday and thank God for what we have while the other guys are watching Meet the Press before heading out to the country-club brunch. We mostly want to be left alone by the elites of both parties and wish they’d all get their hands out of our pockets. We happily give as much of our money as we can afford to charities (unlike Sen. Biden who is actually cheaper than Al Gore — and that is no small accomplishment) but we resent the politicians coercing us to give our money to causes and programs that don’t work or that that offend us. We stopped watching the network news years ago because it ceased to be relevant to those of us who still love this country and believe that wanting to keep more of our hard-earned pay does not make us greedy, mean-spirited, or racist.
We the people of the United States of America, in order to form a more perfect union, establish justice and insure domestic tranquility, provide for the common defense, promote the general welfare and secure the blessings of liberty to ourselves and our posterity are getting sick and tired of always being asked to pay for the bad decisions and atrocious and possibly illegal behavior of others. We just became the owners of about a trillion dollars in bad debt in order to keep people in homes they couldn’t afford and Wall Street bankers in homes that only they can afford. And to add insult to injury, our property values will drop even more, destroying the equity in our homes that we the responsible, law abiding, financially conservative, taxpaying Americans looked to as our biggest asset.
They told us we had to do the deal to save the economy. We did the deal. The economy is still tanking. Only now they have set a precedent that runs contrary to everything we have been taught about accepting consequences of bad behavior. Risk is a thing of the past. We have basically socialized the economy.
No wonder the Dow plummets.
— Mark Corallo is a principal at Corallo Comstock, Inc.
http://article.nationalreview.com/print/?q=OGE1ZjA4ZTE2MjQ4MzJlMGE4ZjkzNTMwMTRkMjA1YTA=
F*CKING F*CK!!! This shit pisses me off!
dandy
“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.” ~Winston Churchill |
| |
| | | | When I read that a $700 Billion Bailout is a pebble in the pond of the problem, I get quite concerned. is this a decade long problem, the tip of the iceberg?
~ I dig it when you have a smile on your face ~  |
| |
| | | | Unless the legislative branch drafts legislation to put an end to the practices that led us to this point, the problem will not go away. If we continue the practice of making lenders lend money to people who cannot afford it and using taxpayer backed entities such as Fannie Mae and Fannie Mac to prop up those loans, we will continue Socializing our economy. There is no way around it. We can either fix the laws that led to the crisis in our capitalistic economy (the envy of every other economy on the face of the earth), or we can continue down the path of socializing our economy. Are there any socialized economies that anybody would like to trade for ours? If so, you need to check your head, because I think it is actually a piece of wood.
dandy
“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.” ~Winston Churchill |
| |
| | | | I have a bumper sticker on my car
it says
STOP REPEAT OFFENDERS
QUIT RE-ELECTING THEM
IF OBAMA GETS ELECTED AND THESE LIBERALS GET RE-LECTED
THEN I'M GOING TO HAVE TO SIDE WITH THE EUROPEANS
THAT AMERICANS ARE STOOPID
|
| |
| | | | Zanny,
The average american seems to believe what they see on tv. The MSM is extremely biased for Obama. I just shake my head when I hear liberals call Fox News biased for conservatives. To liberals, a balanced approach to coverage and guests is considered biased for the right, and coverage like the MSM that is extremely biased for the left is seen as balanced coverage. Even when confronted with non-partisan research on the subject (that shows how biased is the MSM) liberals refuse to believe there is any bias except that of FOX News. Not only is it a crock, but it shows how far out of whack are the left's sensibilities.
Even the print services like AP are in the tank for Obama. The NY Times ran a piece that somebody posted here that glossed over the Ayers stuff, and listed NRO as a debunker of the Obama's-Ayers association (NRO is no such debunker).
I have confronted these things through my mother and father. They are both Americans that believe what they see on the nightly news. They are not stupid, but they do not even think about the NEWS lying to them or slanting stories. They believe the news is like it was when they were young. They believe it is reporting they are seeing, but in truth, it is mostly opinion journalism these days. The opinions expressed by the MSM during the "News Hour" are extremely biased, and my parents do not have a mindset that questions the News. It seems generational to me. On the other end of the spectrum are the "young skulls full of mush" who don't know enough to know they don't know enough to have an informed opinion. The personality cult that is Obama is perfect for them.
just some musing,
dandy
“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.” ~Winston Churchill |
| |
| | | | personally I don't think the world is going to come to an end if Obama wins I just expect more of the same bullshit
its too bad america may waste four years to find this out this was the not the course she should have taken
we are not moving forward as a people we are moving backwards.
I hope that if the liberals take over the economy collaspses so we can say we told you so.
and reid and polosi and frank and kerry to name just a few are swept from power....
liberals want us to respect the culture of a people who treat women like shit
they want to sit down and negotiate with a people who use mentally challenged people as weapons of mass destruction.
they want to negotiate with a people who has stated over and over to see the destruction of isreal and The US the Great Satan
to sit down with people who stone thier people for adultry
with leaders that kill thier own people and blame it on America.
they want to negotiate with the ones who say
we as americans exploited the world
we as americans are humanities worst enemy
we took thier garbage for over 30 years we are just beginning to give it back and its working now the liberals want to surrender it.
America wake up liberals are our enemies not our friends they do not have Americas best interests at heart.
we should not negotiate from weakness but from strenght
"cruck that shirt"
people who know......... know the truth ........and what the liberals spew is not the truth and looks like at the moment a little over 50 percent of america is swallowing it hook line and sinker. |
| |
|
|