It was fun to watch our temporary President (Hank Paulson) before Congress today. It appears that Congress has been listening to the constituents who aren't so big on bailing out the capitalists. And they're getting it from "both sides now" from conservative and liberal.
It's tough; on the one hand, Bernanke et al are right. The system is so screwed that if it's not bailed out, we'll be reading the Grapes of Wrath to get tips on our travel plans. But on the other hand, should we really be bailing out the idiots who apparently can't see the difference between a good computer model and a ponzi scheme?
Anyone who reads, say, the Economist knew this was coming. Hell, anyone with a 30-year fixed mortgage could see the system going insane. I STILL get offers to cash out my equity from Countrywide...you remember them? The company with the absolute asshead at the top?
Cap the earnings of these assholes? Not good enough Congress. Cap their earnings AND give them a good prison bitch name. If we're gonna bail them out, then give it to them the way they would have given it to us if they had half a chance.
Oh! There was some fun in the news today: Rick Davis...15-G's a month from Freddie Mac up until it went under? A couple of hard spanks on your little Fannie Mae should be only the beginning. I do see a great Obama ad coming.
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