Wednesday, September 24, 2008
Let Them Eat Cake... And the $700 Billion Dollar Dumpster...FANTASY SPORTS SOURCE
Let Them Eat Cake...
As I watched the Senate Banking Committee tear into Paulson time and time again, I quickly realized that Democracy was at work. It was more than obvious that my fellow countrymen had raised their voices to be heard. An avalanche of phone calls, emails, and telegrams have flooded Congressional offices on Capitol Hill. The American people smell a rat... and while some of the people in Congress would gladly work with and feed the rat, it is obvious most would not! Or, at the bare minimum it was a great opportunity to show the world what a rat looks like!
We are reminded of the historic scene when Bread Riots took place in France prior to the French Revolution. Inside the castle walls, Marie Antionette asked a maidservant why the people in the streets were rioting. The servant responded that people were starving because there was no bread to feed their families. Marie was rumored to have said "If they don't have bread, let them eat cake." And we know where that kind of attitude got Louis and the Hapsburgs!
The Executive Branch of government clearly underestimated the American people, and their out-cry against the big BIG BAILOUT! Whether it is a COMPLETE DISCONNECT from the American people, or in-difference to the American people, Bush was too quiet for too long! His popularity has plummeted to an all-time low. More and more people have come to question his leadership. Maybe it is not the fact that a bailout of some kind may is a viable solution to this problem. Evidently, tax-payer monies will be used to "help" those who in many cases, are suffering from a massive case of financial over-indulgence. More importantly, it appears that the people do not trust the players who would carry out this plan. Think about it... Wall Street, the institution which represents some of the best minds this country has to offer has time and time again shown the U.S. taxpayer that they are not above reproach. The core of this problem is a flaw in human nature...our values as individuals and as a nation are on the line! Is this the type of America we hope to pass on to our children?
The 10 Commandments, are conveniently remembered and forgotten. Yet, people know right from wrong regardless of expediency or personal gain. Consider Commandments 8,9,and 10:
8. Do not steal! (From God, your nation, your neighbor, and the things of which you are supposed to be a steward.)
9. Do not lie or bare false witness against your neighbor! (The unfortunate fact is that some people lie so much, they do not know what the truth is...especially when it comes to saving their own skin or making a gain of some type.)
10. You should not covet! (Wanting better things in life is not a sin, but the obsession of wanting things is. It is safe to say that people wanted the good life and were willing to do anything to get it. And that dear readers is a sin!)
The violation of these Commandments could at the very core, be at the center of this Big, BIG, BAILOUT debate. While action may be needed, people do not want to reward those who have willingly broke these basic guidelines with no sense of remorse. What's to stop this whole fiasco from happening again when there seems to be no real punishment or even admittance of guilt? My family prays for this country every day... we need it!
The $700 Billion Trash Can...
The bailout plan, in its' most basic form establishes a giant garbage can for bad debts. The Executive Branch, Paulson, and Bernanke Bailout Bill NEED this garbage can to wipe out Wall Street's debt! Preferably, it is a garbage can that can hold $700 Billion dollars of debt. Sure, we are told that this publicly funded garbage can could well save the U.S. economy from collapse. But everyone is pretty convinced that law-makers could very easily create a bigger and deeper garbage can in the future. If we were to use the Resolution Trust Corp. as our model, we can make some basic assumptions. During the 80's S & L Crisis the RTC was a vehicle to store "inherited S&L " government debt. It had a $60 Billion dollar cap. When it was all said and done, the garbage can had over $120 Billion dollars of bad debt placed in it. In modern times, $1.4 Trillion is not out of the question!!! But remember, it is different this time... I want so badly to believe these people. But, I go back to the days when Andrew Jackson "Killed the Bank". Jackson...The President of the United States was threatened with an economic depression by those who controlled the bank. Whether you like Jackson or not, we can all appreciate someone who stood up to sinister forces in the face of economic loss. I wonder what Andrew Jackson would do about this mess?
Fantasy Sports Source
For those who are looking for my free college football selections, they can be found at: FANTASYSPORTSSOURCE.COM Currently I have a 12-3 record against the point spread. The complimentary selections will be updated this Thursday. Ideally, I will find a partner who is interested in helping me develop this site as it already gets a considerable amount of traffic.
Posted by at 5:53 PM