Saturday, September 27, 2008

Tap Dancing on the Edge of Financial Oblivion

I haven't been posting as of late, because the economic and political tension is so enervating. But what I'm hearing about the negotiations in Congress is the last straw. Despite my aversion to the intrusion of the government into business, I support the bailout, although I would dearly like that Wall St bigwigs not only get no parachutes but have to return bonuses earned while they were leading their enterprises into perdition. Don't look like that's going to happen.

What I do know is that time is of the essence. If they dally too long, whatever they ultimately pass will be too little, too late and we will head for the next great depression. That is what I fear. And need I remind you those Americans were tough. One can only imagine the present generation. So what are our elected representatives doing? Well, yesterday I was angry at the conservative Republicans who were balking and making noises about the government insuring, making it easier for private equity, etc, palliatives that not only will not work but will allow the snowball to keep rolling.

Then I read politicians are actually putting pork on this bill. Rumor had it that Biden put money in for Dover Air Force Base. And now I hear that the Democrats are using this emergency bill as the occasion for demanding that union reps sit on the boards which decide executive compensation. And the one that really got my goat- that a portion-the figure mentioned was 20%- of taxpayer monies recovered go to ACORN. You know that Democrat leaning, voter registration, maybe irregularities, Obama associations ACORN. Not a penny. Start a whole new flippin' government bureaucracy but don't give any more taxpayer money to a partisan player. That is taxation without representation, perhaps because there are 9 Democrats closeted with 2 Republicans.

It is disgusting. It is beyond disgusting. It is vile to use an emergency to advance your agenda, to endanger further the economic well-being of this country in order to push your partisan views. If ever a situation demanded only the minimum necessary to staunch the bleeding, it is this one. But they just can't help themselves. Perhaps it is time that we help them out the door.


Ms Calabaza said...

Man, you have described how I have been feeling all week. What a great post. I linked you.

Agustin Farinas said...

Great post. My sentiments exactly. In what other job would you screw up the works completly and then have the gall to ask for 2 years advance salary in order to leave it? None that I know of. So why should the taxpayers have to fork over these huge golden parachutes for these failed execs? This is an outrage and the American taxpayers are being fleeced by these scoundrels and thieves.