These Things, They Scare Me
I'm usually quite clueless when it comes to economic matters, so I generally stay out of them.
But this bail-out plan being discussed seems to cross the line into a larger issue.
Basically, the situation, as I understand it, is this: our stock market is shaking on the edge of disaster and to help this problem, Secretary of the Treasury Henry Paulson has asked for $700 billion to help bail out the banking companies. Here's the caveat: he wants the money, no strings attached, all actions un-reviewable.
Are you fucking serious? He wants a berth that huge? I'd think with that much money in question, there should be TONS of accountability and a completely articulated and detailed plan so maybe we can know what he plans to do with the oceans of our that money he wants.
And the way Paulson's saying that everything needs to happen now, fast and now, it reminds me a lot of an episode of The Office. Stanley mouthed off to Michael and Michael was looking for ways of dealing with it. Dwight swooped in with this solution that put Dwight in total control of everyone and everything. He presented it and kept repeating, "Do it. Give me authority. Don't think. Do it. Do it."
That's what this feels like.
Just with 700 billion tax-dollars.
This really scares me.
Unrelatedly, Faith, I'll call you after classes. I got your message and we should catch up and stuff. Because you're awesome and sexy and mrowr.♥
But this bail-out plan being discussed seems to cross the line into a larger issue.
Basically, the situation, as I understand it, is this: our stock market is shaking on the edge of disaster and to help this problem, Secretary of the Treasury Henry Paulson has asked for $700 billion to help bail out the banking companies. Here's the caveat: he wants the money, no strings attached, all actions un-reviewable.
Are you fucking serious? He wants a berth that huge? I'd think with that much money in question, there should be TONS of accountability and a completely articulated and detailed plan so maybe we can know what he plans to do with the oceans of our that money he wants.
And the way Paulson's saying that everything needs to happen now, fast and now, it reminds me a lot of an episode of The Office. Stanley mouthed off to Michael and Michael was looking for ways of dealing with it. Dwight swooped in with this solution that put Dwight in total control of everyone and everything. He presented it and kept repeating, "Do it. Give me authority. Don't think. Do it. Do it."
That's what this feels like.
Just with 700 billion tax-dollars.
This really scares me.
Unrelatedly, Faith, I'll call you after classes. I got your message and we should catch up and stuff. Because you're awesome and sexy and mrowr.♥