Today's Ideas:

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    Tuesday, September 9, 2008

    When the facts come out

    Americans and their creditors should be irate once the "facts" come out on FNM and FRE.  Just weeks ago the CEO's assured the markets they were adequately capitalized, now they are being forced against their wishes to hand over the keys.  Fed examiners determined that not only were the capital reserves too low, but also the quality was questionable.  To add insult, Paulson says, "I never said the company was well capitalized, what I said is the regulator said they are adequately capitalized." Pathetic, and reminds me of Clinton's response to questions about Monica Lewinsky, when he said, "depends what the definition of is, is?"

    This "bailout" is nothing of the sort.  It was engineered to keep our credtiors appeased for the moment, so that we might borrow our way out of this mess in the future.  Mudd, Syron, and many others (including Franklin Raines) need to do hard time.  That is the only deterrent, and making them richer than they already were should cause an uproar.  I truly believe that if Americans just understood how these type decisions affect them (enslaving their children to foreign governments), they would make better choices.  In short, I am not down on Americans, I am down on our "leaders".  The good news is that markets will always run their course.  The road to economic recovery will be very painful, regardless of my wishes otherwise.  Americans need to seriously consider who they choose to make decisions, and quit reaching for the quick fix. What happened to Paulson's "bazooka" which he promised he wouldn't even need to use, because it was so powerful?  Well, a month later, he's halfway through his mortars.
     I am grateful to trading for providing me the opportunity to work and think for myself.  I encourage people to remember what makes humans (not just Americans) great, and acknowledge our weaknesses.  Nobody can give you what you really need, which is self confidence and acceptance of things you cannot change.  However, we can change the clowns that continually make problems for the rest of us, whether they be Republican or Democrat.  I am not choosing sides, as anybody promising a "free ride" of any sort, without rainy days, should be cast aside immediately.  If we truly love this country, accept their is no quick fix to repair years of corruption.  This latest manipulation has just lengthened the time we'll feel the effects of decisions made on behalf of you, for the benefit of criminals.


    Blogger Johnabi said...

    You have a wonderful way with words. Appreciate the work you do and that fact that you are willing to share with us.

    September 9, 2008 2:11 PM  

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