Tuesday, November 11, 2008
Hey Buddy, Get a Bucket and Bail!
Bail out Fannie Mae, Freddie Mac, A.I.G., Wall Street, mortgage banks, insurance companies and now the auto manufacturers. The federal government has no constitutional authority to purchase ownership positions in private businesses. So I now own a portion of these companies, get the 'pleasure' of paying for their bailout but get no dividends or capital gains. Huh? Who is next? Starbucks' profits are down 97%, how about big coffee? When do I get bailed out? No, I will get stuck with the bill for these failing businesses that should be allowed to fail and be replaced. Actually, if Washington would get out of their lives they might be able to survive. It's these ridiculous regulations and unholy public/private partnerships that have lead to this sad state of affairs. This is nuts. The world turned upside down. Government of, by and for the C.E.O.'s. Heads up D.C., if this continues much longer the winds of revolution will begin blowing.
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