Wednesday, September 24, 2008

i need a bailout too

Yo, i need a bailout. My company lost 3.6 billion and all i'm getting is a 11.6 million compensation package. . . of course i'm lying, and so are they!

Really though? I've been reeling at this crisis, and there's a lot i don't get about it. We have two parallel crises on our hands. the first crisis is the home mortgage crisis, and the second is the Wall Street business credit crisis.

The supposed bailout that is being proposed on Wall Street bails out the Wall Street behemoths who bought and re-packaged bad loans to each other, and lent money based on the profits from their swindling ways. But, there doesn't seem to be a bailout being proposed for the mortgagees of the swindling sub-prime loans that were taken to be fleeced and are now left with loans they can't afford.

Now, there seems to be a real problem in the financial sector, that makes everyone nervous. But that's just the thing . . . it sounds only like its in the financial sector. I don't see how the contraction in credit will churn the economy to a grinding halt. But then again, i'm not in finance, but i do know a little bit. I just think the world economy needs a little sobering up on building a solid and stable economy versus the rampant unsubstantial 'growth' and profits that corporate business has had, while the rest of us struggle to pay our bills.

I know that it seems very short-sighted of me to want to tell those investment bankers to go jump out of a building (see crash of 1929) but i mean, they swindle joe homebuyer and want jane taxpayer to bail them out! They robbed peter, gambled and lost, and want paul to pay for it. How ludicrous is that!?
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