Wednesday, September 24, 2008

We need a new alphabet

One of my favorite Daily Show pieces honoring Bush as the ultimate Lame Duck, did A-Z screw ups. They actually filled all 26 by letter, so with that said the news of a 700 billion bailout of wall street I think this news of economic woes not seen since the great depression takes the cake as a final parting gift of the bush dynasty.

As a former loan officer for a commercial bank for 4 years this hits home. I routinely denied customers who were credit risks as during the 1990's this was the standard-THEN. Not so in the last 8 years. This American Life did a great piece explaining how the whole housing crisis was set up in layman's terms. As I am trying to make up my mind if I really want to pay to bail out wall street exec and sleazy loan providers looking to make a profit on the ignorant, reward people who lived WAY beyond their means, and oh yeah- thank an administration that gaffed at the thought of regulation. If there has ever been a time to understand monetary and fiscal policy, it's now... hope you didn't sleep through that day in my class!

It's not like my family is going to get a bailout for the thousands we have lost in our stocks, 401k accounts, and ben's 529 plan since this started. I should feel compassion as there are many innocent people who will/have lost everything, but instead I am dumbfounded that once again I feel swindled by my leaders.

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