September 16, 2008

Madness: Bailing Out Greed in Wonderland

Greetings. I'm writing this from somewhere down the rabbit hole. I'm convinced that we must all be living in Alice's Wonderland these days, watching the parade of insanity playing across the news media machine recently.

That global machine is buzzing right now with word that the Feds may be about to announce a massive bailout of AIG. This after massive federal charity for Bear Stearns, Fannie Mae, and Freddie Mac to keep them from drowning in their own bad investment decisions. The AIG bailout isn't confirmed just yet, but reports appear to be converging. [ Update 6 PM PDT: The AIG bailout is now confirmed. ]

This is the same government that not so long ago made it much more difficult for individuals to file for personal bankruptcy, in line with the GOPs' call for "individual responsibility" in such matters. In other words, if you're a (formerly) filthy rich financial services corporation that screws up -- after getting your claws so deeply into the economy that any attempt at removal will cause a death by millions of cuts -- the taxpayers will be called upon to bail you out.

On the other hand, if you're some poor slob trying to make a living actually creating products and services of real value -- not just pushing money around -- and you get into financial trouble -- well, the government just tells you to go to hell.

And what's the GOP standard bearer's reaction to all this today? John McCain says we need -- get this -- a commission to study the problem! Another damn commission? This isn't like trying to figure out 9/11. It's completely clear how we got into this position: Greed -- lack of appropriate regulation -- the GOP's never-ending belief in "trickle-down" economics and their genuine disdain for the average working man, all wrapped up in the flag and disingenuous talking points of course.

I am physically sickened watching this play out. And I guarantee you that there's no "Drink Me!" or "Eat Me!" solutions that are going to be conveniently sitting around at the bottom of this rabbit hole waiting to be cheerfully consumed.

Absolute, unadulterated madness.

--Lauren--

Posted by Lauren at September 16, 2008 05:35 PM | Permalink
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