Recently the government spent or budgeted $700 billion dollars to unstable financial institutions, most of them who made the stupid mistake of taking on unstable assets. You might say, "So, the government is bailing out businesses that made dumb financial decisions?" And the answer is YES! How often do we as human beings make stupid mistakes and our parents tell us, "Well, we know you won't be doing that again? or the rhetorical questions they say "Well wasn't that smart?" or some such. But our parents (if they are good ones) tell us we need to learn from our mistakes. If you miss a problem on your exam, figure out what you did wrong, and learn from it. Perhaps when that question comes up again, you'll have the right answer or will do the right thing. And instead of our government being the responsible parent that says to these financial institutions, "well, learn from your mistakes", it is bailing them out! It's equivalent to you doing something stupid at your job (photocopying your butt on the public copy machine) and then having someone come up and say... "Oh... well that wasn't smart. But you won't have any consequences for your actions." So our nation is going deeper into debt to make up for the mistakes of stupid companies, most of them who were stupid enough to allow financially unstable people the ability to purchase a house they could not afford. And how is the government going to pay for this? Why the tax payers of course! So, now I'm not only paying for people one welfare and other government funds... I'm now paying for idiot business men to remain idiots and allow them some job security. These morons shouldn't be allowed to be secured in their job! They've already screwed their job up (in a big way) and should probably look at doing something else... like flipping hamburgers at McDonalds or some such.
And while I'm really upset by all of this there are 2 groups that are really happy by governments deeper involvement in business: 1) the morons who got "bailed out" for their screw ups, and 2) the Democrats who want more government involvement. Heck, the Democrats are so thrilled by this (and it's no surprise that Congress did this- since it is currently held by the Democratic party), they are wanting to sink the country deeper into debt by having the government be responsible for health care as well. Great! One more thing the financially responsible people have to provide to the unfinancially responsible people. Perfect.
Honestly the government should not have bailed them out. But, you may say, then we'll have an economic crisis and a recession heading our way! Guess what?! We are already in a recession. No one wants to admit to the "R" word... but we are already heading towards "Great Depression #2". And with confrontations in Iraq and Afghanistan, and possible confrontations in Venezuela, Russia, and China... we need to have some of our government's budget providing for the security of our soldiers as well as a possible military confrontation. The bail out is going to cripple us more than it will help us. So, I'd like to take a moment to give Congress the finger. Thanks for F*cking things up!
For more info. check out = http://online.wsj.com/article/SB122215840074466841.html and http://online.wsj.com/article/SB122200573768460503.html from the Wall Street Journal.
And while I'm really upset by all of this there are 2 groups that are really happy by governments deeper involvement in business: 1) the morons who got "bailed out" for their screw ups, and 2) the Democrats who want more government involvement. Heck, the Democrats are so thrilled by this (and it's no surprise that Congress did this- since it is currently held by the Democratic party), they are wanting to sink the country deeper into debt by having the government be responsible for health care as well. Great! One more thing the financially responsible people have to provide to the unfinancially responsible people. Perfect.
Honestly the government should not have bailed them out. But, you may say, then we'll have an economic crisis and a recession heading our way! Guess what?! We are already in a recession. No one wants to admit to the "R" word... but we are already heading towards "Great Depression #2". And with confrontations in Iraq and Afghanistan, and possible confrontations in Venezuela, Russia, and China... we need to have some of our government's budget providing for the security of our soldiers as well as a possible military confrontation. The bail out is going to cripple us more than it will help us. So, I'd like to take a moment to give Congress the finger. Thanks for F*cking things up!
For more info. check out = http://online.wsj.com/article/SB122215840074466841.html and http://online.wsj.com/article/SB122200573768460503.html from the Wall Street Journal.