...or a host of other stories that point to what some financial experts are predicting to be the worst - and longest - financial downturn in the last quarter century, if not since the Great Depression.
I could post about how this is a prime example of the real outcome of laissez faire capitalism; about how without conscientious regulation, inevitably some assholes will figure out how to make a mint and then leave the taxpayers with the check.
I could post about these things, but instead this morning my mind has fixated on something else. Sometimes it's a blessing being half an idiot.
Friday, September 26, 2008
I could post something about JP Morgan's buyout of WaMu...
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5 comments:
This whole financial meltdown seems to make the whole Enron thing look a little blip in economic history in comparison. So what I want to know is, why aren't we seeing any bigwig CEOs of Freddie Mac, or Lehman Brothers, or WaMu being taken away from their homes or office in handcuffs? Something illegal must be going on.
And I haven't had a bowl of Honey Combs in who knows how long. Do they still make those?
Immoral I would say, but not illegal. Remember law and justice are not the same thing.
You may be right, but I still can't believe some kind of illegal "cooking of the books" didn't take place to make this whole mess worse.
I guess what people used to tell me when I was a kid about the whole investment game is right--it's really just glorified gambling. Maybe I should convert my savings into gold bars. I don't know if that's really a good idea or not, but man, wouldn't that be cool to have a safe room full of gold?
I have a gold room full of safes. I really should have hired licensed contractors.
Buying gold bars is investing as well. And I personally wouldn't buy gold right now because it is too expensive.
What bothers me is not such much the legality or immorality of it. What bothers me is the fact that the US government is making large strides toward socialism. The only true way out of this mess from a capitalistic perspective is to let failure happen. Unfortunately, that failure would create mass havoc and all those years people have stood up for their rights to bear arms would take on a whole new meaning.
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