Bailout, Shmailout
Okay, I admit it, I'm just really not all that upset about the financial meltdown. I've been telling anyone bored enough to listen to me for two years that this was coming, I battened down my hatches so to speak and quite honestly losing money seems to be the only thing that gets many peoples attention. Once we have their attention maybe half of them will be capable of learning something.
Oh no, she did not just say that...what about all the poor innocent people who are about to lose their life savings? You know what, most of the people who are truly innocent in this mess already had no "life savings". They already had nothing and now they'll have lots of company. So how the hell does it feel anyway?
Sorry people, I don't blame "Wall Street" or the politicians because it was you, middle class voters, who put those people in the position to do this. It was all good with you as long as you thought you were part of the club but damned if it doesn't suck to find out you are just as disposable as all the people you thought were disposable.
Talk to me when you figure out that you are your brother's keeper and you do have a responsibility to the least among us, I might be willing to listen then.
5 comments:
Amen sister, you tell it. Our uninformed electorate may be about to get what they deserve. Sadly, they probably weren't learn a damn thing from it. They'll believe Faux News when they blame it on Clinton.
Weren't is the new won't.
Yes indeed. The sooner the get this meltdown underway, the sooner people will start paying attention.
Postponing it for another year or so at the expense of $700 billion or whatthehellever is not helping.
There will be no meltdown.
Is that good news or bad news?
There will also be no more "subprime mortgages." Low income and non-traditional income borrowers will no longer be able to buy a home.
Is that good news or bad news?
There will be significantly increased regulation and supervision on Wall Street and on Freddie Mac and Fannie Mae.
This will further reduce lending to the low and middle income, the weakest among us.
I'm waiting for the good news.
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Oh we're going down, it's just a question of whether we do it in rapid bursts or simply slowly bleed down over an extended period of time.
From my POV it was idiotic to lower lending standards in the first place, if we'd really wanted to help lower income citizens we'd have raised incomes not offered them ridiculous loans they could not afford. Instead all we've done is push more people into lower income brackets.
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