I listened to a couple of minutes of Bush’s economic speech last night. He said two things that caused me to stir. I am paraphrasing, we (the government) expect to get paid back nearly all of the money that we loan. Yeah, right. With words like expect and nearly all, and with no oversight. Puhhhlease. There’s gotta be a loophole in there the size of the US/Mexico border. These golden parachute receivers are getting an angel investor – its like their country died and left them a big inheritance. Oh wait, maybe it did died. I think I’ve been hearing the death rattle for the past eight years.
The other thing he said is that our country is in dire need of this money, we need it now, and we need it without regulation, we can regulate later. I call shenanigans. I know their tricks too well to fall for this one. Why don’t we approve the loan with the stiffest of regulations and deregulate later? It is the same logic, just flipped. Why don’t we tell them that the can have the 477.978832 billion Euros if we get 10% off of our respective mortgage? I’d go for that. Plus they still have to pay the $700 billion back.
What ever the case, just please no more freebies for BushCo. He’s done enough damage. I feel sorry for the next President. They are walking into a world devastated by down home, good ol’ boy, Texas swagger. And that’s hard to walk off. It leaves you tingly and extremely rigged.
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I hear ya dude. Thank the gods the congress isn’t completely republican anymore, else they’d probably lax the regulations even more. The funny thing is, from what I’ve been reading, EVERYONE hates this bailout package. A lot of times Republicans more than Democrats, because it’s privatized winnings and socialized losses.
Although I do begin to wonder, if we spent $700 billion dolllars to keep all the subprime mortgages low instead of just buying them from the banks, wouldn’t that let everyone keep their house and save these dumbass companies?
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