[Vision2020] If the baiout was bad, just look at the implementation

[Art Deco]

So the taxpayers buy $700 Billion worth of difficult, expensive, if even possible to collect bad debt arising from the greed of banks, security businesses, developers, and realtors, and the congress adds another $100 Billion in tax break give-aways.

Now how to implement this grand, absolutely counter-intuitive plan:  >From today's NY Times: news:


"The Treasury has barely a month to create one of the world's largest asset management firms and put a dollar value on assets that no one wants."

"There are a lot of people, because of the downsizing of Wall Street, who won't be getting a paycheck at all. They would love to be involved."
JOSHUA S. SIEGEL, of Stone Capital Partners, on recruiting people to oversee the Treasury's bailout effort.

Aren't these some of the same SOBs that got us into this mess?  And now we hire them to get us out of it?  Fucking Wonderful!!!!!

And what business and experience does the federal government have in managing commercial financial assets?  What is the probability of success of this ill-founded con?


Then there's Senator's Larry Craig's wonderful newsletter explaining why the bailout is not a bailout basically by saying all this difficult, expensive, if even possible to collect bad debt will be collected and will benefit taxpayers.  

It's too bad that Craig's activities in a public restrooms weren't caught years ago so we would be free of this kind of obsequious pandering to the greedy, irresponsible rich who have preyed on the rest of us -- where such predatory behavior was allowed top occur in part because of the lack of intelligent government regulation and oversight, and where such regulation and oversight was vigorously opposed by the likes of Craig.


In great anger over the blessing of our legislators of both parties for the loss of personal responsibility,

Wayne A. Fox
1009 Karen Lane
PO Box 9421
Moscow, ID  83843

waf at moscow.com
208 882-7975
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