MOTHERFUCKING GOVERNMENT
This is the first time in a long time that I remember being this angry at the government -- but I am FUCKING PISSED.
So the Fed has not only bailed out Freddie Mac and Fannie Mae, they've also loaned a hell of a lot of money to AIG, and now there's a comprehensive plan in the works to generally bail out all of the assholes on Wall Street who raped the little people in pursuit of the Almighty Dollar. These are people who should have known better -- who probably did know better -- and borrowed sometimes more than 30 times their assets, gambled on the stock market in a way that they had to know was foolish, and lost. And now the entire economy is on the verge of crumbling, and the goverment is going to take over, take all of these company's bad assets........ and leave them the good ones.
No. Sorry. No. Take it over if you want to take it over, but you take it ALL. You don't buy it out -- you just take it. Everyone involved is left without a penny. You take their salary. They get nothing in compensation. They can be happy with all of the millions that they STOLE from ordinary people who were just trying to save for retirement. If the government can't handle that many companies, they can sell them for pennies on the dollar to some of the firms that didn't take part in the madness. (I am happy to say that Wells Fargo, my bank, was one of these.)
Congress has a chance to step in and stop this foolish action, but they're talking about recessing and getting out of the way because they "don't understand it". What's not to understand? These people gambled the way that they did because they were so sure that the government would step in and bail them out if things went south, and guess what happened? The government is stepping in and bailing them out now that things have gone south. It's like training a dog -- the dog will know that next time, it can do the same thing and get away with it, and there WILL be a next time. Remember the savings and loan crisis? Repetition of history, much?
Yes, the economy will crash in a very big way if nothing is done, and a lot of people will lose a lot of money. But if the government is going to throw away billions of dollars, why not throw it away rebuilding the 401Ks of people who were trying to be responsible by saving their money instead of blowing it on stupid shit they didn't need, people who denied themselves so that they could max their 401ks. I feel very fortunate that all of my money is currently in savings. Even though I'm losing money to inflation, at least I'm not losing it all.
Yes, the economy will crash in a big way, but I'm at the point of saying... LET IT. This has been coming for a long, long time. Use the billions of dollars that the government is wasting (I know they're saying that the 85 billion is a loan, but it's totally not. Once people are no longer interested in the whole affair, people will donate to campaigns, and congress will be persuaded to allow AIG to repay on its own schedule, and then stop demanding repayment, and then flat out forgive the debt.) to support social programs and programs that give jobs -- this would be a good time to repair some of our country's infrastructure, or even put in some better public transport like high speed rail -- increase salaries of people already employed by the government, and lower taxes for the poor and the middle class to practically nil. Shore up the economy that way, and leave the fat cats to swing.
Never gonna happen, I know. Senselessly throwing good money after bad is easier, faster. It's another bandaid. Someday, this country is going to collapse under the sheer weight of bandaids that cover it. It's already happening. Our infrastructure is crumbling. Natural disasters caused by global warming (also largely our fault) are wiping out many of our cities, requiring aid that we can't afford. Our idiotic foreign policy is costing us more. Our country is in an enormous amount of debt, and can't oppose China's human rights abuses because of it. Someday, it's all going to come crashing down around us, and it might be in my lifetime.
Well fuck them all, that's all I've got to say. Fuck the greedy, both the greedy rich who stole from the American people and are going to walk off with it all, and fuck the greedy middle class who are now the greedy poor for borrowing more than they could afford to buy, buy, buy. Fuck them for screwing over people like me, people who have carefully saved all of their lives. Let them all swing. Let them all wind up on the streets homeless until they die off and clean up the goddamned gene pool.
So the Fed has not only bailed out Freddie Mac and Fannie Mae, they've also loaned a hell of a lot of money to AIG, and now there's a comprehensive plan in the works to generally bail out all of the assholes on Wall Street who raped the little people in pursuit of the Almighty Dollar. These are people who should have known better -- who probably did know better -- and borrowed sometimes more than 30 times their assets, gambled on the stock market in a way that they had to know was foolish, and lost. And now the entire economy is on the verge of crumbling, and the goverment is going to take over, take all of these company's bad assets........ and leave them the good ones.
No. Sorry. No. Take it over if you want to take it over, but you take it ALL. You don't buy it out -- you just take it. Everyone involved is left without a penny. You take their salary. They get nothing in compensation. They can be happy with all of the millions that they STOLE from ordinary people who were just trying to save for retirement. If the government can't handle that many companies, they can sell them for pennies on the dollar to some of the firms that didn't take part in the madness. (I am happy to say that Wells Fargo, my bank, was one of these.)
Congress has a chance to step in and stop this foolish action, but they're talking about recessing and getting out of the way because they "don't understand it". What's not to understand? These people gambled the way that they did because they were so sure that the government would step in and bail them out if things went south, and guess what happened? The government is stepping in and bailing them out now that things have gone south. It's like training a dog -- the dog will know that next time, it can do the same thing and get away with it, and there WILL be a next time. Remember the savings and loan crisis? Repetition of history, much?
Yes, the economy will crash in a very big way if nothing is done, and a lot of people will lose a lot of money. But if the government is going to throw away billions of dollars, why not throw it away rebuilding the 401Ks of people who were trying to be responsible by saving their money instead of blowing it on stupid shit they didn't need, people who denied themselves so that they could max their 401ks. I feel very fortunate that all of my money is currently in savings. Even though I'm losing money to inflation, at least I'm not losing it all.
Yes, the economy will crash in a big way, but I'm at the point of saying... LET IT. This has been coming for a long, long time. Use the billions of dollars that the government is wasting (I know they're saying that the 85 billion is a loan, but it's totally not. Once people are no longer interested in the whole affair, people will donate to campaigns, and congress will be persuaded to allow AIG to repay on its own schedule, and then stop demanding repayment, and then flat out forgive the debt.) to support social programs and programs that give jobs -- this would be a good time to repair some of our country's infrastructure, or even put in some better public transport like high speed rail -- increase salaries of people already employed by the government, and lower taxes for the poor and the middle class to practically nil. Shore up the economy that way, and leave the fat cats to swing.
Never gonna happen, I know. Senselessly throwing good money after bad is easier, faster. It's another bandaid. Someday, this country is going to collapse under the sheer weight of bandaids that cover it. It's already happening. Our infrastructure is crumbling. Natural disasters caused by global warming (also largely our fault) are wiping out many of our cities, requiring aid that we can't afford. Our idiotic foreign policy is costing us more. Our country is in an enormous amount of debt, and can't oppose China's human rights abuses because of it. Someday, it's all going to come crashing down around us, and it might be in my lifetime.
Well fuck them all, that's all I've got to say. Fuck the greedy, both the greedy rich who stole from the American people and are going to walk off with it all, and fuck the greedy middle class who are now the greedy poor for borrowing more than they could afford to buy, buy, buy. Fuck them for screwing over people like me, people who have carefully saved all of their lives. Let them all swing. Let them all wind up on the streets homeless until they die off and clean up the goddamned gene pool.