Monday, November 10, 2008

The Defenestration Of Wall Street

If they won't jump, push them! Just kidding:) Seriously, though, once again the Bush administration bet on the wrong horse. After invading the wrong country, Iraq, the most educated and most secular state in the Mideast, to say nothing of being a bulwark against Iran, Bush's Secretary of the Treasury, Henry Paulson, bet on AIG, the bottomless pit and let Lehman Brothers go down causing further turmoil in an already roiled market. They pushed the wrong guys over the brink. I won't forget the image of Paulson and Bernacke looking like two deer caught in the headlights and Bush almost in tears, thanking Paulson for being his Secretary of the Treasury. Maybe that is why their judgement is so poor. The first bailout plan was indeed a bailout of institutions that were now stuck with the very crap that they themselves created through negligence and greed. Speaking of letting the fox guard the chicken coop, why were these scoundrels even allowed to propose spending our money to pay unfair prices for their own garbage. Pretty fancy recycling, if you ask me. Then Paulson gives a big chunk of the 700b to banks and brokers without requiring them to lend it to businesses and individuals, so now they are just sitting on our money without doing anything to help the economy. Somebody needs to light a fire under their arses. Just fly by the seat of your pants, boys. Come on, how about a plan, how about some thought. All Lemmings ran into the sea, now they are scurrying back to safe dry land, and still don't give a hoot about you and me. That's it men, button up your pants, and don't give a $&%#. Run the national debt up to ten, eleven trillion. Will interest rates rise, when they need to fall? Who is worse? Jeff Skilling of Enron infamy or Paulson, Bernacke and Greenspan.

Maybe it's time for someone to fall on their sword. Can't wait for some new blood to tackle this mess and get rid of the culprits who caused it.

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