(no subject)
Okay, so maybe I'm not sophisticated, don't understand high finance or whatever, but it's driving me up the wall that the US administration wants to give 700 BILLION dollars to Wall Streeters (you remember, the ones who brought us the sub-prime mortgage crisis and subsequent bank closures/bankruptcies etc) without much in the way of constraint and without saying no to golden handshakes for the architects of this financial disaster. And who's going to pay for this platinum gift? Why, the US taxpayer, of course! Meanwhile the administration's own party votes against the plan while the democrats vote mostly in favor of it. The ensuing panic on Wall Street would be laughable if it wasn't threatening to cause a worldwide depression a la 1929.
People, what is needed here is some limit on greed. I know, that's pretty well sacrilege in the councils of High Finance, but just look how well they've done after having the ball for the past decade or so. We the ordinary people need it back. After all, it's not Monopoly money they're playing with, it's the money we all go out and earn every day and then dutifully hand over to the banks to keep safe for us. Those of us with 401(k)s and other investment savings plans already know how safe that money really is. The rest of us will realize soon that even our non-investment savings can be at risk if enough banks go belly-up in the wake of all this crap.
It's not sane to let the banks police themselves, any more than it's sane to let a grizzly bear babysit your infant. Could we maybe have a bit of sanity from some quarter? I'm not saying a bail-out is not in order. Just hoping against hope that maybe the lawmakers will come up with a plan that is not destined to cause more grief than the crisis has already brought us.
People, what is needed here is some limit on greed. I know, that's pretty well sacrilege in the councils of High Finance, but just look how well they've done after having the ball for the past decade or so. We the ordinary people need it back. After all, it's not Monopoly money they're playing with, it's the money we all go out and earn every day and then dutifully hand over to the banks to keep safe for us. Those of us with 401(k)s and other investment savings plans already know how safe that money really is. The rest of us will realize soon that even our non-investment savings can be at risk if enough banks go belly-up in the wake of all this crap.
It's not sane to let the banks police themselves, any more than it's sane to let a grizzly bear babysit your infant. Could we maybe have a bit of sanity from some quarter? I'm not saying a bail-out is not in order. Just hoping against hope that maybe the lawmakers will come up with a plan that is not destined to cause more grief than the crisis has already brought us.