Bailout

My-my; and today they want you to donate $750,000,000,000 to the rich and mighty! My God, how did we get here? In 2000 after claiming credit for the good economy for 8 years Bill Clinton had lead us into a recession. In 2001 desperately trying to get out of this recession Bush cut taxes and the fed lowered interest rates. The fed did get little extreme. The classic formula worked but many Adjustable Rate Mortgages (ARMs) were based on historically low interest rates. Furthermore both Republicans and Democrats were pushing for greater home ownership. What happens when you stretch a rubber band too far?

Fast forward a couple years. Rosy predictions for the Jews war turned out to be...... With the government borrowing money at an insane rate and higher gas prices causing commodities inflation the fed had to raise interest rates...allot! What happens when a diver comes up to the surface too fast...the bens. People knew the interest might raise a couple points but when their mortgages adjusted they adjusted for a 5% change in interest rates!!! This was a hard knock for people who gave themselves plenty of leeway. For those whose mortgages were already on the edge (sub prime) this must have been a desperate situation.

But only a small percentage of "sub prime" loans went bad! Since the margin for these loans was only a few percent, a small percentage of failures started the dominos falling.

What of these top executives who are so smart that they are worth hundreds of millions of dollar$? Nobody is that smart. These multy-million dollar executives made the same mistakes that the average, financial illiterate made; and yet, still walked away with millions of dollars. This is the problem! Even if everything ends up rosy and the government gets the taxpayers money back we are still stuck with the same business royalty. We have in-fact developed in this country a business aristocracy no different than the British gentry or the French aristocracy. These royal executives are stupid, lazy, dishonest and useless. Consider a man who is paid $400,000,000; could he not afford his own accounting firm, just to double-check the numbers? These financial collapses are ugly and painful; but, it's how the system rids itself of parasites!

Is there anyone that believes the Jews ( AIPAC) did not push the Iraq war? Is there anyone that believes the government can borrow $1,000,000,000,000 and not effect interest rates? Is there anyone that would like to buy a bridge to New York City (in Brookland), cheap?

The proper way to promote home ownership is with limited government, low taxes and low government debt. Low taxes encourages a robust economy. When we borrow money we have to compete with our government, the less money the government borrows the better for us. Blatantly ignoring market realities will always come back to haunt us.

I don't know; the more I hear of this bailout, the less I like it. Nobody is going to bailout me. Now that we are all depressed let me recommend a bailout for the libito:

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