Wednesday, September 24, 2008

The Financial Crisis: My Simple Math. The Score.

Math is not my strong suit but here goes.

Mortgage Deregulation. Billions in bad paper everywhere. Some take massive profits. Shady mortgage-backed securities collapse.

Someone needs to put massive amounts of money back into institutions or a crisis in confidence will destroy the economy.

The taxpayer pays. (That's you and me.)

Score:
Capitalist Thieves: 1
American Citizens: 0

The Savings and Loan debacle in the eighties pales in comparison to the scope and corruption of the current disaster, but there are things in common: John McCain was formally rebuked for his role in the Keating Five scandal, and a member of the prominent Bush family, Neil Bush, was also elbows-deep in the fiasco that eventually cost billions to clean up.

Talk about Voodoo economics. Maybe you can tolerate these so-called Conservatives, but all this compassion is killing me.

1 comment:

Flamsey said...

It is really a fascist ie: corpoarate take over of America.

The influx of this fiat money flooding into the system will lead to inflation. And the average taxpayer will wind up farther behind than they already have become.