September 24, 2008

Hope...

It really doesn't matter which party takes charge of the economic concerns. And make no mistake, both parties will - usually with the left they want to take control of business before there's a problem (pre-emptive strike - i.e. socialism); the right does it after a crash, but either way it's still government distortion of the market and less liberty for the citizens and citizen-businesspeople. Barney Frank was a little too candid in admitting this, I think - "FRANK: Well that's, frankly, the Democrats, some Republicans. We are the ones who have said, "Look, we're going to buy up some of these assets," and many of them will be mortgage securities. What we're saying is, "Buy them with an eye towards assembling enough of them so we then could be the landlord, in effect, and reduce the foreclosures," and that's one, frankly, that the administration has been resisting." What's tragic is that nobody even notices. You can have the federal government for a landlord now or later, I guess. Hope may be unwarranted at this point. Will we ever have access to the American dream - free trade - again? Who the hell knows. Maybe I'll post something more uplifting tomorrow.

2 comments:

vesta44 said...

I'll tell ya what, there's going to be a bail-out whether we want it or not. But since we don't have a choice, I would much rather Congress have oversight and control over that money and how it's spent than to just turn it over to the Fed and say "here it is, do whatever". The Fed has been doing that all along, and look where we are. The rich getting richer while making shitty financial decisions that make sure the poor stay that way.

AnnieMcPhee said...

It's about time the "private sector", that is, the people, stopped letting congress get away with controlling the economy and manipulating it so that these things can happen. No more Dem or bi-partisan committees, sure as hell no buying up our property so the federal government can be my landlord for God's sake (with money they stole FROM US), and no more pretending they're fixing anything. The same people asking the damn questions were the same people who broke the system (many of them personally) and they have the gall to question anyone?

It's time the private sector questioned THEM and held them accountable, that's what.