Home > Banking, Big Government, Debt, Dollar, Economics, Economy, Inflation, Money, Politics, Socialism, Taxes > Racketeers Defeated in Round #1

Racketeers Defeated in Round #1

The racketeer bankers and their cronies in Washington DC were defeated today.  Great news for all of us for now.  Don’t think for a second they will stop, as they are in the works of new legislation to provide these scum suckers a free ride with an even larger bailout.  My guess is it will be 1.2 trillion.  Americans I believe are tired of paying for failed businesses and overpaid executives who drive these companies to the ground.  Why is it our fault these companies made bad decisions and bad investments?  Especially bankers that made huge profits all these years.  You are going to see a bumpy ride in wall street over the next few weeks and even months.  That is normal to see in markets that were overinflated.  Corrections will take place.  A bailout of any sort will not fix this problem.  Actually, a bailout would make things worse by keeping the market overinflated.  The bottom line is you will pay more for virtually everything and then have to deal with a market crash on top of this, if a bailout is approved.  I say let the market correct itself.  Let mismanaged and unprofitable companies get bought up by other companies.  I will not say things will smooth sailing in the near future.  But the ramifications of a bailout will only delay and enhance the fallout of any market corrections that must happen.

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  1. September 29, 2008 at 6:36 pm

    I agree with your assertion the the market should be allowed to correct itself-in principle. At the same time, millions of baby boomers now face the spectre of never retiring. For them, a bailout could-maybe help in that these companies know what they did and won’t likely be that cavalier again. Maybe. What would be more punishing? A market correction, or Wall Street’s ire? We already saw a taste of the latter today.

    http://rjjrdq.wordpress.com/2008/09/29/wallstreet-turns-the-screws-on-america/

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