Boomer, you sure know how to ring my bell, but not in a good way.
"Will a bailout be another waste to be measured in epic proportions?"
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Short Answer: Unfortunately yes, absolutely
Just saw Barry Goldwater Jr (ex-senator) and I liked his quote:
"Having Congress watch over your money is like having your dog watch over your food"
When has any government regulation worked effectively? (and I suppose there are examples out there..somewhere).
SEC?, well no, that's why we're in this mess
FDA? hmmmm,
Border Security? please
How about Health Care, International Relations, Govt. Ethics,
Jobs creations? Deficit, Trade Balance, ?
How about the big one biting us in the rear, Energy?
could we not have managed to become more conservative and creative starting way back in the '70?
Now Congress is going to come up with a bill of biblical proportions -
in 3 days?? LOLOL.. .spare me.
Oh, they did initiate the proceedings and are tightening up on steroid use in baseball and they'll nail Barry Bonds, that's a comfort.
We're in this mess because the government didn't do their job and allowed banks/investment companies/etc to regulate themselves.
Are we surprised that didn't work? That the CEO's took huge risks and raped for mega-millions of $$$?
That high risk bad loans were made to people who (whether they understood or not) really shouldn't have had them?
This continues to be, and will continue, to be painful for years.
Tis why my little bit of cash is stuffed in the mattress.
I'm admittedly a cynic. The feds have learned the rules so well, they manipulate them to create a career, whether anything gets done or not.
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My singular prayer for this country is that the people revolt, and somehow a miracle occurs, and someone (or many) with real integrity step forward and change the government machinery so it works for the people, not individuals and special interests.
I know this is a downer (at least to me, as I reread it), I'm really sorry.
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