My Thoughts on Government Financial Interjection

With Fannie Mae and Freddie doing so badly that the government stepped in to bail them out, and now with the $85 billion bailout loan to AIG and so many others, I am honestly just ticked. Off. All this means is that we, as tax payers, will have to pay for the troubled economy.

How did we get to this state? Greedy investors and companies. That’s the American way and dream, right?! And if people want less and less interjections and such from the government, what the heck are we doing allowing the government to take its claws deeper into the businesses?!

So what if Fannie Mae and Freddie’s going down will cause a turmoil?! Things will HAVE to get worse before they get better! It’s like a teenager that spent too much of his/her money and you practice the “tough love” portion to help the teen learn the valuable lesson. Yet if Bush administration wants to bail the entire economy out, no one will really learn anything.

I for one am sick and freaking tired of using my own money to help others. Let me be clear. I am sick and tired of helping other rich people from losing their money! I would rather want the money to go to help insure the poor families and such. Does this make me a Democrat?! Then so be it! But I still don’t like a lot of Democratic perspective on things, let alone the fact that I don’t like nor do I endorse Senator Obama (and don’t you DARE to accuse me of racism ’cause I’m not).

I just wanna end it with this saying that I didn’t think I’d use myself… “Bah, humbug!”

3 Replies to “My Thoughts on Government Financial Interjection”

  1. How did we get to this mess you ask? Well you got one of the four culprits correct: wall street. However, you forgot to add: government, foreign banks as well as of course the individual. Government since besides unhelpful policies such as a tax system that does not encourage savings, sarbanes-oxley, mark to market accounting, facilitating naked short selling, resisting reforming fannie and freddie that was called for since 2003/4 (there might have been earlier calls) had a direct role in causing the subprime mess that has poisoned the financial system: they cajoled and threatened banks to get them to loan to people that banks should not have loaned money to. Threatening banks with fines for being discriminatory for not loaning to credit risks or for redlining and such. Foreign banks since due to demographic issues in their own countries, facilitated the easy credit culture by pouring money into picking up these tranches. And of course the individuals for getting loans that they could not afford.

    And if you think this is fun, wait till we start getting some of the bills for stuff like medicaid and social security as the baby boomers retire.

    Anyway, something to keep an eye on.

    BTW, just an FYI, but the way that I determine if one is a liberal or conservative is the way in which one leans when faced with this question: liberty or equality? Helping the poor and stuff like that has nothing to do with it – everyone wants to help the poor, conservatives and liberals alike – the difference is the methods.

  2. glad i checked your blog brother, i totally agree!

    many of the fat cats pushing for this “bail out” are the same ones that push for the abolishment of welfare and other social services, but when its the case of the fat cats themselves in trouble of loosing much of what they have through knowingly bad investments and practices, its time for some governmental intervention, some welfare for the rich, kudos to our governments past 8 years, hopefully its not more of the same to come!


  3. Mike,

    If you think that the same people that are calling for this ‘bailout’ (and I hesitate to call it a bailout) are the same people that are or were calling for END of GOVERNMENT welfare and GOVERNMENT social services – tells me that you have not been paying attention. The guys who are probably the most against government sponsored welfare and social services are the libertarians (note the small ‘l’) and they are probably the guys most against this bailout too. How do you think Ron Paul voted? What do you think Bob Barr says about all of this?

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