The Bailout , wrong wrong wrong!!!

Giving the Robber Barons of Wall Street 7ooBillion- 1 Trillion dollars would be the mistake of the century. Better to put your baby chickens in the Fox’s den for safekeeping.

The blame for this fiasco is widespread, and began in the late 70’s with the relaxing of investment regulations, was pushed along in the mid 90’s with the push for universal home ownership, and was¬†shoved ¬†over the edge with relaxation of Wall Street regulations.

Turning brokerage houses into banks with the ability to lend money and the desire to invent exotic financial instruments has fueled the conflagration.

When the government insisted that mortgages must be granted to people because of their color or ethnic background, without any care about their ability to make payments, the ice was spread on the slope.

When non income check, low interest, baloon payment, and adjustable rate mortgages are advertised and promoted regardless of any fiduciary restraint, the trumpet of danger is blasting!!!

I have some ideas .

Perhaps a different perspective.

I say do not bail these low life thieves out of trouble.

My plans and thoughts later today.

Comments are closed.