Posted by
John Finnigan on Thursday, January 29, 2009 8:27:18 AM
I read the bail out bill; I’m frightened.
The best and brightest have brought us disaster.
I still find it amazing how in this world with all of its data mining, data analysis, and data forecasting-modeling the banking system and Wall Street tanked. Really, really supposedly smart and formerly really, really rich people have lost trillions of dollars of wealth in the last months.
People and institutions have lost confidence in financial promises and over inflated commitments.
Yet, the bail out bill-all nearly seven hundred pages of it-is frightening. There has been no thought to its effectiveness. It reads like every mad liberal got together in a room and put every imagined pork barrel fantasy on paper and got the democrat majority in congress to suspend the laws of good sense in order to try to get the people to believe in and economy that failed.
The commitments and promises in the bail out bill will not save the American economy.
Essentially, the bail out bill admits that the U.S. government is a sub, sub prime borrower; then gives them another line of credit that they can not afford and will never be able to repay on the hope that they will somehow turn their mess around.
I have no confidence in the bail out bill. Unfounded promises and undeserved confidence are no longer acceptable to me.
Perhaps it’s a sign of my age but I have confidence in people and institutions that do what they say; say what they do; and that keep their promises. The president and congress of the United States no longer fit in that category.