Tag archive for ‘Unc’
Uncle Sam the Loan Shark
I must admit - I’m totally dumbfounded and stunned today by the article I read in the Wall Street Journal entitled, “The Paulson Plan will make Money,” by Andy Kessler. Essentially, Kessler’s argument is that somehow in all of this mess, the money spent in the proposed financial intervention plan before Congress will actually result in a windfall to the taxpayer in potentially trillions of dollars. This argument is fundamentally flawed - for it if were true, there would be no investment/financial services crisis to force the government’s hand.
Reform, not Rescue… Buy in, not Bail Out.
This is a restructuring, not a rescue. It’s a buy in, not a bailout. Congress and the White House need to realize that this effort’s main goal is the stabilization of the financial markets and the recapitalization of the financial system. It is not the time to take the taxpayer’s money and give it to Wall Street. It is not the time to take the taxpayer’s money and give it to homeowners who can’t pay their mortgages. We’re taking the taxpayers money and correcting an error we should have corrected over five years ago - making the markets more transparent and ensuring that people who benefit from risky deals also assume the downside to those deals when they go bad.
By Joe Biden’s standards - I’m a Yankee Doodle Boy…
(Washington, D.C.; Right Commentary): Last Thursday, Democratic vice presidential candidate Joe Biden said that paying more of your income in taxes is the patriotic thing to do. Well Joe, if that’s the case, then I’m a “Yankee Doodle Boy,” because I pay an incredible amount of my hard earned cash in taxes. Chances are - [...]
Price tag for Government led Wall Street Bailout… $1.3 trillion… saving the US Economy from collapse… Priceless
As a conservative - I’m willing to pay the 1.3T dollars to save the US economy… just like I was willing to spend over a trillion dollars fighting for freedom in Iraq, Afghanistan, and in the Global War on Terrorism. This threat to the United States needed to be dealt with and in a logical way… because stability in the US markets is priceless.
US Government commits to a bailout of the banks…
Following an emergency meeting Thursday night, the Bush Administration and Congress have pledged to work together to commit the US Government to potentially a full intervention in the US financial markets to try to resolve the credit crisis in hopes of staving off broad damage to the United States economy and financial markets.
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