I have had a fair share of discussions lately, with liberals I know. We have discussed the wisdom of borrowing money, to reward insolvency and bad business decisions. But as of yet, no one can intelligently explain why it is good policy to do so.
We have already thrown trillions at every last little thing that met the Democrats' approval and still nothing has happened. Jobs have still been lost. People are still defaulting on loans. Stocks have stopped bleeding for right now, but are nowhere near a bull market.
Well, maybe I shouldn't be given over to such hyperbole, because something has happened.
We have whetted the appetites of financial institutions with the aroma of fresh-cooked corporate welfare. Now we are being told, the banks still need more money despite the whopping sums they have already received.
Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and GMAC LLC are among the companies judged to need additional capital according to results of regulators’ stress tests on the 19 largest U.S. banks.
Nice, isn't it?
I think it's only natural to ask these kinds of questions , ones that center around throwing borrowed money around like it's magic dust. While we are at it, we might want to ask who is monitoring the money, who is providing oversight?
So just who's tracking that $787 billion in taxpayer money that President Obama and the Democrat-led Congress are doling out? You are. Or you're supposed to be, anyway.
"We are, in essence, deputizing the entire American citizenry to help with the oversight of this program," said Rep. Brad Miller, chairman of the House Committee on Science and Technology's subcommittee on investigations and oversight.
So does this mean that if I see waste or mismanagement of federal dollars, I can report them? Does it mean I can make a citizen's arrest? I doubt the answer to either of these, is yes. These people did not listen to the American citizenry when the debate over these expenditures first arose, why would anyone think they would listen to any of us now?
10 comments:
If I had an account with one of these bailed out banks, I would immediately get my money out of that bank. I say let the banks go, we don't need them. Some entreprenuer will start a new one with possibly a new way of doing business that could keep the bank afloat. How are we supposed to promote small business if we keep bailing out these giants that can't support themselves?
If the same level of success in dealing with the economic problems by throwing un-Godly sums of money as the war on poverty, then we are in really, really deep kimche...
//How are we supposed to promote small business if we keep bailing out these giants that can't support themselves?//
It is understood that there will be businesses that will succeed and those that will fail. It comes with the territory. It's the natural way to weed out the non-hackers.
This includes banks.
//If the same level of success in dealing with the economic problems by throwing un-Godly sums of money as the war on poverty//
Tom, don't you know that the reason poverty hasn't been solved yet is because the rich haven't been made to pay their fair share, for being rich?
They are coming for you LA Sunsett. I warned you this would happen. I begged you to become obedient to the will of Allah ... er, Obama. I pleaded with you not to screw it up for everyone. Did you listen?
No. And now, we're all fucked.
Eric Cartman
SPE
We're supposed to be watching? If you question government expenditure the Dims ridicule you and the idiots on the media make obscure sexual references about you.
"the aroma of fresh-cooked corporate welfare" excellently said.
That is exactly what it is, corporate welfare. The original welfare had a time limitation, yet now people live on it for their life time...
If a business can't stay in business, let it fail. Including banks. Does it mean hard times? Yes, sometimes. No one every promised good times and parties forever. Life happens. The free market ebbs and flows and resets itself. It is only when the government gets involved that it fails.
Cartman,
That's it. You are grounded forever when I show this gutter language to your mom.
//We're supposed to be watching?//
Among the many other roles we must play in life, yes. We must now be assume the role of government watchdog. Never mind they won't listen, we must step up to the plate and work for free.
//The free market ebbs and flows and resets itself. //
I like to say, it's "self-cleansing".
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