I am reading that Bush is considering advice that the US buy into ownership of shares of the banking industries, as a way to restore calm in the marketplace and ensure credit accessibility. Considering the government history of running Social Security, Medicare, Freddie, Fanny and the rest of its bloated Socialist bureaucratized feel-good programs–> I cannot say that I am thrilled by this idea. Government should be a hovering watchdog ready to chase the Foxes out of the hen house. Which they do a poor job of at best. Yet this idea will give the biggest money predators, US Legislators, a chance to really raid the hen house and fatten up on the choicest hens in the flock. All I can say is No-No-No Thank You George!!!!!!!!!!
Posts Tagged With: banking
Many people in the USA and the World are busy tossing around accusations and starting to panic over the current banking crisis. The crisis is a two headed monster created by greedy banking executives and people overextending themselves in housing and credit purchases. Many of us may or may not suffer financially from the actions of others before this crisis is over. And though you cannot blame anyone for worrying -especially the banking industry and those citizens that have overextended themselves- people with cool heads are already capitalizing on everybody else’s panic. And to steal a quote from the movie classic “It’s A Wonderful Life” : Mr. Potter is not panicking, Mr. Potter is not selling. Mr. Potter is buying –> about five billion dollars worth of bargains.