Tag Archives: bailout

Maybe We SHOULD Bailout Europe?

I’ve mentioned before that, while being a blogger makes me an expert in all sorts of things that I’m not, the interconnectedness of global finance gives me a headache. And while I’m as anti-bailout as the rest of you, I allow for the fact that there’s a lot I don’t know. I rely on people smarter than me to make sense of the nonsensical.

One of the columnists I rely on is Robert Sammuelson, a right leaning economics writer for the “Washington Post.” Rep. Paul Ryan is always sharing links to his writing, and he always males a great deal of sense whether it be jobs, health care reform, stimulus, etc. Granted it’s usually positions I agree with in the first place. He just explains to me why.

So imagine my surprise when he came out in FAVOR of bailing out Europe…
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Why the Greek Bailout Stinks on Ice

I’ll be the first to admit, I’m not a global economist. Even discounting the fact that being a blogger makes me an expert on all sorts of ill shit I know nothing aboot, the way the global economy is tied together…I get that if Greece goes down it’s bad for all of us. Outside of that, I rely on smarter people to say what’s what.

What I do understand is that, with the bailouts, eventually you have to say no more. The auto bailout was what first got be blogging. To me, it made no sense to bail out the auto companies when you knew three months later they were just going to be looking for more money. If we keep bailing everyone one, eventually we run out of money…which will kinda suck when it’s time for the United States to be bailed out.

So to give an idea as to why so many of us think the Greek bailout stinks on ice, I give you the Mighty George F. Will…

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Romney was Right

A few months back I had a series of blog posts I referred to as “Grand Theft Auto Bailout” (all of which are collected here). I only really started blogging seriously since the election and it was the first major issue that bothered me. In fact, my favourite piece of reader mail was from a guy who claimed I knew nothing of the auto industry and said he was forced to “question my credibility.”

Pssst…I’m a blogger. I ain’t got no credibility.

However if there was one cat who did have the credibility, it was son of Detroit and former presidential candidate Mitt Romney. Romney penned an editorial calling for a structured bankruptcy, to the cries of…well, all the usual voices who cry whenever a Republican says something that defers from Dear Leader.
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[VIDEO]: Don’t Blame AIG, Blame Obama

I love faux outrage, and the brou ha ha over the AIG bonuses was chock full of it today. It’s one of those things where I don’t even know where to start (Chris Dodd is an option), so let’s just look at what I feel is misdirected anger. People are upset aboot AIG for giving mad bonuses after being bailed out by the government. Me? I’m upset at cats like Barack Obama and John McCain who DIDN’T THINK OF THIS WHEN THEY BAILED THEM OUT IN THE FIRST PLACE!

It wasn’t just the two of them, but since they were the ones who had the biggest stage at the time (you know, what with that whole election thing), I hold them mainly responsible for standing there while we rushed a or the bailout (honestly, I forget which one bailed out what) and handed AIG a check without conditions. We gave what many perceived to be an irresponsible financial institution and blank check, and are now outraged that they acted like an irresponsible financial institution we gave a blank check to.

And since Obama is the guy who won, I give you Politico.com…

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Fiscal Suicide: Et Tu, Charlie Crist?

Last week was a good week if you have an (R-State) after your last name. The House GOP stood together and voted against the crap sandwich the kids like to call the Fiscal Suicide Act of 2009. The bill already seems to be D.O.A. on its way to the senate, as even Democrat senators are starting to think it stinks on ice.

So why exactly are the Republican governors encouraging the House and Senate to pass it?

Most Republican governors have broken with their GOP colleagues in Congress and are pushing for passage of President Barack Obama’s economic aid plan that would send billions to states for education, public works and health care. Their state treasuries drained by the financial crisis, governors would welcome the money from Capitol Hill, where GOP lawmakers are more skeptical of Obama’s spending priorities.

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Wall Street Bonuses, Wall Street Schmonuses

So, do you remember back in September when we gave the banks $700 Billion dollars because the banks were failing and it was the end of the world on Monday if we didn’t give them the money? Well apparently, some of those banks took some of our tax money we had given them and used it to pay billions and billions of dollars in bonuses.

As you can imagine, the Democrat party is using this as a massive distraction from the falling public support over the crap sandwich we like to call the Fiscal Suicide Act of 2009 outraged…

Senator Claire McCaskill rolled out legislation to put a compensation cap of $400,000 on executives whose firms receive bailout money. She also proposes creating a court to restrain their “massive self-indulgences.” The Senator from Missouri then spoke of “a bunch of idiots on Wall Street.” Insofar as the Congress is blithely waving more than $800 billion of cats-and-dogs “stimulus” spending into the air, the American people can be forgiven for asking who are the greater fools.

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