Tuesday, September 16, 2008
Republicans as socialists....
I have a degree in Economics. This means that I have very little idea about what's going on in the economy, but I really like graphs. It also means that I get to make as little sense as almost everyone else, including economists, about the economy.
I have watched very closely over the last few days as the financial markets have convulsed again and again. Today's tight wire act over AIG and tonight's rescue by the government shocks the hell out of me. We, as taxpayers, are forced to pay $85 BILLION for the joy of now OWNING the largest insurance company in the world.
I'm amazed by this. I'm amazed at what it is now costing us to fix 8 years of Bush Administration incompetence.
The U.S. government has now taken over, Fannie Mae, Freddie Mac, AIG, backed up the bad assets of Bear Stearns. My only question is why the hell they didn't buy Lehman Brothers. Why not? What makes them any different from the rest?
How the hell can any Republican look the American public in the eye and say they are for smaller government? That is one of the biggest lies EVER!!!!! It ranks right up there with "the check is in the mail."
Oooh, but the check is in the mail. It is our checks, coming out of our paychecks on a weekly or bi-weekly basis, that is funding the lack of regulatory oversight. It is our money which is rescuing companies which were allowed to do whatever they wanted to do by the Bush Administration. It is our money which is not being used to make us safer, or educate our children, or give us better health care, but is being used to socialize an insurance giant.
And let's face it, John McCain is nothing but a continuation of these same horrible policies. He is Bush III.
I'm just angry. Angry at how we are being jerked around by this President.
This is what incompetence looks like. From Katrina to Ike to Wall Street to Iraq, this administration has been one train-wreck after the other.
Sad, sad, sad.
I have watched very closely over the last few days as the financial markets have convulsed again and again. Today's tight wire act over AIG and tonight's rescue by the government shocks the hell out of me. We, as taxpayers, are forced to pay $85 BILLION for the joy of now OWNING the largest insurance company in the world.
I'm amazed by this. I'm amazed at what it is now costing us to fix 8 years of Bush Administration incompetence.
The U.S. government has now taken over, Fannie Mae, Freddie Mac, AIG, backed up the bad assets of Bear Stearns. My only question is why the hell they didn't buy Lehman Brothers. Why not? What makes them any different from the rest?
How the hell can any Republican look the American public in the eye and say they are for smaller government? That is one of the biggest lies EVER!!!!! It ranks right up there with "the check is in the mail."
Oooh, but the check is in the mail. It is our checks, coming out of our paychecks on a weekly or bi-weekly basis, that is funding the lack of regulatory oversight. It is our money which is rescuing companies which were allowed to do whatever they wanted to do by the Bush Administration. It is our money which is not being used to make us safer, or educate our children, or give us better health care, but is being used to socialize an insurance giant.
And let's face it, John McCain is nothing but a continuation of these same horrible policies. He is Bush III.
I'm just angry. Angry at how we are being jerked around by this President.
This is what incompetence looks like. From Katrina to Ike to Wall Street to Iraq, this administration has been one train-wreck after the other.
Sad, sad, sad.
# posted by Kevin @ 9:22 PM 
