This has gone beyond incredible to surreal. Now that the politicians have pried open the “bailout” door, it will never, ever be closed again in our lifetimes. When I was a kid a Billion with a “B” was a shitpot of money. Now that is the interest payment on the debt incurred for the crap like this perpetrated over our lifetimes.
And these are the people who want to dictate the terms of medical insurance and medical care? These are the people talking about taking over YOUR 401(k)?
They actually think this will stave off a recession (too late) or depression or whatever the panic word of the day is? Do they actually think we believe them when they say that?
Why is Citibank so special? What about my buddy who lives over his pizza shop downtown and is struggling to make payroll? he didn’t get into any high-risk default swaps or collateralized mortgages. He didn’t lend out money he knew would never be repaid. When does he get his bailout? He doesn’t. And he shouldn’t. Because that is CAPITALISM. That is America. Try, fail, try again.
Michelle Malkin has the story here.
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.
November 24, 2008 at 9:37 am |
I’ll second that.
November 24, 2008 at 10:58 pm |
my initial thought upon hearing about Citibank’s potential bankrupcy was, Yipee! this will cancel out the small fortune’s worth of debt I have stored up on my trusty Citi-card… right?