The stock market took a historic swan dive today, holding the American people hostage to their economic whims. Hand over that money, or we’ll pound your 401k into dust. And what did our elected “leaders” do? A small gaggle came up with a bill so bad, so ridiculous, that they couldn’t even get their colleagues on board!
Let’s face it folks, either Washington doesn’t know what they’re doing, or they are so beholden to the interests on Wall Street that they are effectively dysfunctional. Today was a short sellers paradise. 75% chance the market goes up at least 300 tomorrow. Sure, just buy up the crap you shorted today. All of this is being done with the knowledge that a bailout is coming for sure. When is a good question, but there is no if.
Some provision in the bill mandated help to homeowners who were “victims” of predatory lending practices. Excuse me, but who in their right mind would sign a contract for hundreds of thousands of dollars and not have a lawyer look it over! It almost defies reality. I feel terrible that people are losing their homes, but at the same time, many of those people should never been allowed to get in that position in the first place. Additionally, there are many fiscally responsible Americans (myself included) who were denied home loans, even though the means to pay the mortgage were much more apparent than those who actually obtained loans. I realize there was a movement to “help the little guy” get into his/her own home-but the reality didn’t match the idea. Apparently, those in Washington, those who were supposed to be looking out for us, not only didn’t care, they were actually in on it. Check out this video of a hearing just a few short years ago regarding the activities of Fannie Mae and Freddie Mac. The Democrats look appalling in that video now, considering what’s happened. My question is: how in the hell did Maxine Waters get elected? It boggles the mind.
Republicans are just as culpable. George Bush and his cronies blowing the borders open and encouraging institutions to cater to illegal aliens exacerbated what would have been a home grown crisis in and of itself. Now we American taxpayers, many who had nothing to do with this crisis, are being blackmailed into handing over our future in order to preserve our present.
If is sound a little ambivalent in my posts, it’s because I can’t figure out if they’re consolidating the wealth of the country to a central government, or giving Wall Street a freebie. Either way, it looks bad…