News Politics Celebrities Movies Current- North Korea threatens USNorth Korea threatens US. North Korea threatened the US by saying it would, “Wipe the US off the map” if attacked. They are referring specifically to the North Korean ship that is on it’s way to Myanmar. If you think about it this is like president Obama’s Cuban missile crisis. Obama has ratcheted up the pressure [...]
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- Guitar Lessons Springfield MAFolks I’m excited today and want to talk about something else besides current news and politics and shit. I started taking guitar lessons! Yes!! I have always wanted to take guitar lessons but never made the decision to just do it. I kept making excuses about not having the time and not having the money [...]
- The New American Revolution Has Begun!!Watch this and spread the word! Take back America! The new American Revolution has begun folks! It’s not a joke. My good friend and neighbor Dave and I have been talking about this for about 4 years now. I could see it coming and now it’s starting to seep in from around the cracks. Around 2004 [...]
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The Senate passes the bailout bill. This comes after Republicans and Democrats alike were slow to embrace the bill due to overwhelming contempt for the bill by the American people at large. Many Americans are not happy with the idea bailing out unethical risk taking CEO’s. By new measures were put in place to protect the average joe and thus the Senate vote on bailout was successful.
The senate vote on bailout deal is historical in that it’s the largest bailout the gov’t has made yet. This concerns me as it is an example of capitalism when things are going good and socialism when things are going awry. I think this introduces an element of gov’t intervention that would be more comfortably placed in Europe.
I’m not sure what I would do about it personally as I’m not a CEO of a major, world level bank, and I’m not going to sit here and pretend I’m a genius like most bloggers. Most bloggers want you to be impressed by their intellect and ‘cunning insight’ but that ain’t me folks. So as far as the bailout goes I’m out on this one.
My simplistic way of looking at this leads me to believe that the bailout is probably not a good thing. True the market will suffer if nothing is done but the market will come back. The way I look at it is really simple. There are millions of hard working and responsible US citizens out there who didn’t make risking investments. Yet they are going to have to pay for the mistakes of top CEO’s engaged in reckless business deals. Basically, the greedy bastards at the tops of all these major banks should be held accountable. They should be investigated, brought to court, assets frozen and sent to jail for twenty years.
The first senate vote on the bailout bill was marred by Pelosi’s partisan mouth once again. This time it went smoothly.
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