demiurgent (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
demiurgent) wrote2008-09-29 09:11 pm
demiurgent) wrote2008-09-29 09:11 pm
In brief: the failure of the bailout
It's surprisingly simple.
Neither major political party was willing to sacrifice the election to save the nation.
There is nothing more basic than that. Neither party would sacrifice personal power in order to save the economy of the United States of America.
My representative voted Nay. For the first time, I'm considering voting against her in November. I'm certainly calling her office tomorrow to express my deep disappointment in her.
For those who don't want to see the bailout of Wall street firms because gorsh, they's all rich and it's not fair? I hope you really, really enjoy the next ten years.
Neither major political party was willing to sacrifice the election to save the nation.
There is nothing more basic than that. Neither party would sacrifice personal power in order to save the economy of the United States of America.
My representative voted Nay. For the first time, I'm considering voting against her in November. I'm certainly calling her office tomorrow to express my deep disappointment in her.
For those who don't want to see the bailout of Wall street firms because gorsh, they's all rich and it's not fair? I hope you really, really enjoy the next ten years.
no subject
If someone proves he can't handle your money, you don't give him more money. You let him go bankrupt and wait for someone else to pick up the pieces.
If you give him more money, he's going to go bankrupt later instead, and now you don't have the money you gave him.
no subject
We're talking about buying up mortgages for pennies on the dollar, sitting on them while the market recovers, and then selling them off at a profit.
As I've said in other replies, if I had $700 billion, I'd do the bailout myself, and I'd make money hand over fist doing it. It's a spectacularly good investment opportunity.