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Lessons from banking crisis

Yeah, I'm a politico, but it's fun and there isn't much else that grabs my attention ...

We are getting played by this banking crisis, credit crunch, sub-prime bubble, whatever you want to label as the problem or blame as the cause is really irrelevant. The bill has been signed and the first chunk of money is being alloted to buying chunks of certain banks. Wait up, so the government that prides itself on free markets is buying into the banking system? Does this not ring anyone's alarm bell? The CEO's of these failing institutions have certainly acquired enough wealth, not to mention the wealthy investors, to heal their ailing institutions without government help. Yet it will be the common person, that's me and you, with small savings accounts that suffer most ... hmmm? What twisted logic is it that makes bankers and governments think they can insure risk, then pass that responsibility for payment on to the ones who did not profit from the risk. We got played. Congress approved us getting played. And since nothing is being done to fundamentally change the regulatory functions of our banking structures, we will be getting hit really hard by this in the near future. See biblical apocalypse for similarity to what I mean by really hard.

Well as long as I can still buy my goodies and treats who cares? Me, that's who. Sleep is for the weary and I can go with the best of them!

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