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Another bailout for the fat cats

September 22nd, 2008, 8:00 pm · 8 Comments · posted by Jon Lansner

Your blogger’s most recent column for the dead tree edition of The Register says …

“Once in a lifetime crisis” logic will back measures that prop up the fats cats – ailing corporations that played stupid financial games. Accounting tricks will save jobs of bankers and other executives. Loans – unavailable to the masses – will give life to stocks and bonds that otherwise would be worthless.

You, however, will stare at the thin checkbook and the bleak employment prospects and declining house values. You wonder: “What’s in it for me?”

Sadly, we’ve reached a point of fiscal, monetary and corporate malpractice that we have few choices. We’ll print money for desperate CEOs and dumb investors. We’ll take bum loans off bankers’ hands. We’ll even change stock-trading rules to protect weak companies. The small fry? Hah!

To read the rest, CLICK HERE!

And what our local Congressmen are saying …

Posted in: Jon's work • Meltdown • • •
 
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 8 Comments

  • get real says:
    September 22, 2008 at 10 pm

    I agree 100% that the bailout is just another scam to pull a fast one on the taxpayers. “Sorry, we were so busy making millions during the boom years that we lent money to whoever could breathe, but now that those bad loans (that we KNEW were a bad idea) we need YOUR money to baoi us out. The profits from the boom years? Oh yeah, we’re keeping those, too!”

    So the rich get richer, and the government does a reverse Robin Hood and takes from the poor to give to the rich. We should throw out all the bums come election day; but sadly, this being “conservative” Orange County, I shudder to think of all the votes that will STILL be cast for the wrong party. Not that there really is a “Perfectly Right” party anymore.

    However, how does giving more breaks to the irresponsible, be they wall street or “small fry” consumers, help anything? This is one area where “Quid Pro Quo” does not net the average taxpayer or average citizen any benefits.

    People, the companies, even the government, all need to learn — JUST LIVE WITHIN YOUR MEANS!!! Just because they offer you acredit card does not mean it is GOOD FOR YOU to take it. Its like drugs. Just say NO - unless you can handle it.

    “What’s in it for me?” is the WRONG question.

  • I want my stucco box says:
    September 23, 2008 at 12 am

    Get real YOU have got it right!

  • nanowest says:
    September 23, 2008 at 3 am

    Dead tree edition……….is this a new description for newspapers?

  • poneeboy53 says:
    September 23, 2008 at 7 am

    Well maybe not a third world country but sometimes I think I am living in Vietnam or Mexico depending on what part of the OC I am in.

  • poneeboy53 says:
    September 23, 2008 at 7 am

    Ignore my post above wrong thread