Thursday, December 4, 2008

You can kind of see how this is going...

There's a slow, but sure evolution occurring...
Our Congress voted to give over $700 Billion dollars of our money to bail out poorly, if not illegally, managed finance companies, which by the way, were under direct governmental oversight and review through the U.S. Treasury Department. The bailout was for the purpose of buying bad mortgages to assist the lending agencies and came with assurance to U.S. taxpayers there would be a return on their "investment" as those purchased properties regained value. Good thing the government has such a long standing record of wise investing. Dang.

Then it turns out that much of the $700 Billion is going to be used to buy stock in various banks and financial institutions. Boy, I feel better already- the U.S. Government will have part ownership in various banks. Oh great. Now things will get better for sure.

Here it is today, and I listened to outrageous snippets of the "Big Three" auto execs begging for Congress to bail them out also. Unbelievable! It's sick. It's wrong. It's got to stop, but it won't. The U.S. Government will give a big bailout package to the U.S. Automakers in return for some kind of ownership or stake in the industry. Just wonderful.

So the government, who essentially had all this happen on it's watch, will now be given unprecedented stakes in our financial institutions as well as the auto industry.

What's left?

This socialistic governmental transformation sort of reminds me of something....

"In order to ensure the security and continuing stability, the Republic will be reorganized into the First Galactic Empire! For a safe, and secure, society." - Emperor Palpatine (Darth Sidious)


Zach said...

Yep, that sounds (and looks) about right. Say, is that Chris Dodd in the photo?

Frontier Forest said...

Never thought I would say this, but so far….. President Elect Obama has made some surprisingly good choices. Even as much as I question Hillary, no doubt she is qualified and certainly knows how to play the political game of “cat and mouse in the big house.” And I am very much looking forward to January 20th. Call me Pollyanna, but I believe change will be a welcomed oasis in my struggling business. At least with Obama in charge, maybe the media will begin reporting some positive news? He is Sovereign and “it is in His hands that men are made great and given strength.”

Anonymous said...

Okay Tony,
As a fellow BPC camper of yours, that comes from Detroit, I feel the need to comment.
I read your blog daily, as well as the various check ups on Facebook, but for once I feel the need to comment.
I live in a world that once, and now struggles to be defined by the big 3. It is rough for us Michigan Yankees, who either have worked for the big three, or have an immediate relative who does; to sit by why the Government bails out various other "idiots" and doesn't so much a blink an eye at what keeps us going!! I understand the situation, as does most other Americans, "WE HAVE BEEN LIVING IN EXCESS FOR YEARS" but that does not make me willing to cut losses and claim to be something I am not. The Big 3 made my family, and I have so many friends in the industry now, that I pray nightly for their financial security. I know where we stand as Americans, but I also know where I stand as a Michiganeder, or better yet lump myself with you as a YANKEE!!!

Reepicheep said...

hmmmm who could you be Mr. or Mrs. BPC Camper from Michigan ?...I only know a handful of you....

I appreciate your point, nevertheless my larger point is this- the U.S. Government is gaining more stakes in our major institutions then every before. Never mind they cannot manage themselves let alone banks, lending institutions, or the auto industry, they will now be part owners in all of it.

Not good for anyone, ESPECIALLY those in the auto industry.

I do feel for those whose jobs are at risk. I grew up with that constantly in Buffalo, as you know, fellow Yankee.

Michael Lockridge said...

Wow! Scary!

I am still waiting for my bail-out check. I am losing heart, however. It seems the government trusts those who failed or outright robbed the people more than the people themselves.

Just think of how much more money I could put into the economy if my house was paid for by government bail-out! I could not just buy things, but I could buy things AND stuff!