Wednesday, September 24, 2008

Things I Guess I Don't Understand: Economics

Okay, is this whole bailout thing one last big grasp for the money before the elections? I ask this because otherwise I don't understand it.

I understand why people want to stay in their homes, including people who financed their homes with loans they had no realistic expectation of repaying. I get that.

I understand why the people who packaged and made those loans, and then bundled and sold and resold those loans don't want to get left holding the sack. I get that.

I don't get why (or how) those of us minding our own business trying to live responsible lives are supposed to give the people who created this cluster-fuck at least three quarters of a trillion dollars that we don't have to get them off the hook. I know that I'm not very smart, but I'm pretty sure that's stupid. We didn't have the money we used to buy an 80% interest in AIG, and now we're going to borrow $700 Billion (from our enemies) to try to cover the current crop of mistakes made by the very same institutions we want to prop up?

Listen, I wouldn't give anyone appointed to anything by George W. Bush change for a parking meter, much less co-sign for $700 Billion.

4 Comments:

Blogger joared said...

I couldn't agree more. Very concise and well said, AQ. Finally got a post up with a few comments of my own on the topic.

2:06 AM  
Blogger kokopelliwoman said...

Hi, there, Facebook said you might be a friend, and after finding your blog via joared, I think you probably are! Thanks for introducing me to "How to fight a conservative." Popped it right into my layout--I'm a Social Justice Crusader. I'm inviting myself over to your blog for coffee...

8:51 PM  
Blogger Rain said...

Your points are good and I feel a lot of it also. The problem middle America faces is so many are dependent on stock investments to fund their senior years. It's not just fat cats who lost out when Enron went down.I wish I knew the answer but the more I look at our country, government and citizens, the more I think a crash is inevitable and so often that hurts the good along with the less deserving. The average people didn't put their money in the stock market out of greed but out of trying to see themselves with some money when they retire (unless they worked for government where there still are pensions for now but most of them were funded on wall street investments also). It's a bad situation and makes me mad that we are facing it for the greed of others. :(

1:07 PM  
Blogger Kay Dennison said...

Excellent post!!!! I think it goes without saying that I agree with you wholeheartedly but I'm going on record here. You said what I've been thinking since this mess started.

12:04 PM  

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