Love the Bailout, like chemo therapy
Posted on | September 29, 2008 | 3 Comments
The economic bail out package just failed at the House, 228 – 205. The stock market plunged, and I am a few thousand dollar poorer because of that.
A few days ago, my wife and I watched “Sex and the City”, the movie. There was a moment when a sentence uttered with the words “chemo therapy” and “love” in it. You know, if you really are dying out of cancer, you could really love your chemo session. I am sure it sucks, but at least it brings hope, be it so slightest. The alternative is suck-er…
You know, I don’t really like the bailout plan. I don’t like handing a blank-check to Paulson. But I also don’t like the alternative. So, I’d promote the bailout plan. Please love it, like you would your chemo therapy. It sucks. But the alternative is suck-er…
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October 15th, 2008 @ 10:53 pm
On Thursday, September 25, 2008, Washington Mutual voluntarily filed for Chapter 11 bankruptcy protection. The struggling savings and loan’s assets were seized by the Federal Deposit Insurance Corporation and the company went into receivership. This could have been a catastrophic turn of events for America’s economy. J. P. Morgan Chase came in to buy them out at zero hour, staying the worst of it, but one has to wonder. Will more banks fail? What would have happened if J. P. Morgan Chase hadn’t bought WaMu and the FDIC had had to pay customers back? That would have meant up to $100,000 per individual and $200,000 per joint account, as well as $250,000 for IRAs and so on. Many economists fear that such a bailout would have drained at least half of the FDIC’s reserves, which would certainly not sit well if more banks fail. Why has this happened? Is it because too many banks have delved too greedily and too deep into the depths of the subprime home lending market? At a time like this, payday loans from can be a small, good thing for consumers in search of short-term relief.
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March 24th, 2009 @ 3:43 pm
It.s nice to finally hear the President speak and not cringe like a soft tyranny.
March 24th, 2009 @ 3:47 pm
Kattaces,
I just want to make sure, do you like President Obama’s reaction, or do you think that he is a soft tyranny??
I thought you were a tad ambiguous..