Monday, September 29, 2008

Fire. Them. All.

(with apologies to Ezra Levant, who coined that phrase)

Okay. So here we have former and current political figures from both parties calling the financial bailout spade a spade.

Newt Gingrich, former Speaker of the House of Representatives:

"You have the former Chairman of Goldman Sachs asking for 700 billion dollars, and in his initial request, asking for it in such an un-American way that I think he should have resigned," said Gingrich. "I think Paulson has terminally misunderstood the nature of the American system. Not just no review, no judicial review, no congressional accountability. Give me 700 billion dollars, 700 BILLION dollars! 'I'll be glad to spend it for you.' That's a centralization of power that is totally un-American."

U.S. Rep. Pete Visclosky (D-Indiana):

"We are now in the golden age of thieves. And where I come from we put thieves in jail, we don't bail them out."

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And I never, EVER thought I'd see the day I quote Michael Moore, whom I abhor, but in this case, he's right:

"No matter what they say, no matter how many scare words they use, they are up to their old tricks of creating fear and confusion in order to make and keep themselves and the upper one percent filthy rich. Just read the first four paragraphs of the lead story in last Monday's New York Times and you can see what the real deal is:

'Even as policy makers worked on details of a $700 billion bailout of the financial industry, Wall Street began looking for ways to profit from it.

'Financial firms were lobbying to have all manner of troubled investments covered, not just those related to mortgages.

'At the same time, investment firms were jockeying to oversee all the assets that Treasury plans to take off the books of financial institutions, a role that could earn them hundreds of millions of dollars a year in fees.

'Nobody wants to be left out of Treasury's proposal to buy up bad assets of financial institutions.'

"Unbelievable. Wall Street and its backers created this mess and now they are going to clean up like bandits. Even Rudy Giuliani is lobbying for his firm to be hired (and paid) to 'consult' in the bailout."

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Okay. The crisis is still in full swing, and it's difficult to remain objective while events are unfolding.

But objective we must be, if we're to make sense of it all. A good start to understanding how the whole thing got started, and snowballed, can be seen here.

But it's clear to me that the root cause is unbridled greed.

As a conservative -- therefore, a spiritual person (if not "religious") -- it is deeply ingrained in me that:

A) Markets are best left as unregulated as possible; and

B) This comes with a concomitant moral responsibility to make sure NO ONE SUFFERS as a result of personal or corporate speculation.

A handful of greedy speculators has managed to throw the entire world economy into turmoil.

Personally, I'd say they're lucky if a whole lot of people don't seek them out with pitchforks and torches in hand.

5 comments:

Anonymous said...

545 Congressmen decide the future for 300 million Americans.

And there are some very low-life Americans who are already trying to make money from this situation, books on 'what to do, Crisis 02' and it doesn't stop there.

Greed. Plain and simple.

The more money one has, the more money one spends and they're still never satisfied. More money, more money. "Show Me The Money!"

pfffffffffft

Money doesn't buy happiness, it doesn't buy love, it should be used for what we need to survive, not for every whim that those in power are able to manipulate.

It saddens me.

So, I looked back to the Great Depression to see how life after a huge financial disaster was, I think I'll enjoy it. Simple needs, simple things and a simple life.

I have what I need to be happy.

And it doesn't cost a dime!

<333333 to you, Sweet one! I didn't expect the dow to fall 777 today but I DID think of playing 777 in the daily number, I was thinking about it yesterday, dunno why, sometimes, I like to play with numbers. I'm a "multiple" kinda girl, haha! ~(-:

No more talks, tho, not until Thursday because it's Yom Kipper. We must stop devising a play for the worse financial disaster in the history of America because for the next three days, it is a Jewish holiday. But... don't say "In God We Trust."

oooooooookay!!!!!! NOT!

E.D. Kain said...

Something needs to be done...I'm just not sure what. Not the monster that went before the House. Some other smaller monster, perhaps...

Also, I see your pagerank jumped a few points. Good job! You've got a great blog, so no surprise there...

Eowyn said...

Erik, someone made the point that Congress is trying to accomplish in a week what it took FDR months to accomplish, in terms of such a huge paradigm shift.

*shaking head*

Oh, and thanks for the compliment! I installed a site meter just out of curiosity over how many people actually stumble on my little corner of the 'Net -- and I don't seek visibility too aggressively -- so I've been unaware of pageranks and such. How DOES one find that out -- is that referring to where you rank in Google, for example?

KT, I loved how you put it: "Simple needs, simple things and a simple life."

Nutshell. In this post-modern world, where we're all so consumed by "things," this is a chance for us to reconnect before it's too late.

E.D. Kain said...

You can install the Google Toolbar in your browser (Firefox is what I use) and it has a little PageRank checker. Yes, that's how you rank compared to other sites, though it is very general.

For instance for a while there, my site was at a 3, and yours was at a 1. Now, mine and yours are both 4, as are many many other decently-trafficked blogs.

It is much harder to get to a 5, and anything above that is VERY difficult to attain. Then you start getting into the major blogs and sites in the 6, 7, 8 range. I think Google itself is the only perfect 10, with sites like Craigslist and Yahoo hitting 9...

Eowyn said...

Ah ... fascinating, as our pointy-eared friend would say :)

The only thing I regret is that the traffic may be increased, but very few people seem to want to share in the discussion, i.e., comment, and make themselves heard, and ourselves, and so on. But, well, having lurked myself elsewhere, I understand.

Still -- nice to know one is being listened to! :)