Arkady's Thoughts

The first 250 billion is now being allocated. So far I have mixed feelings about this. I am elated that they are not buying up garbage (toxic) mortgages and instead using the money to inject the banks with liquidity. This is important as it guarantees their solvency and that banks will continue to operate. This should alleviate the credit crunch that is precisely what is grinding our economy into a halt. I assume however that this ownership is a temporary measure. We do not want our govt to dictate the bank's policies - that will be a disaster. If they plan to do the same thing as Japan did, at the very least they can learn from Japan's mistakes. Nationalizing banks must be a swift and temporary measure to provide confidence and a source of security to the ailing banks. Buying up mortages is the worst thing they can do because it just rewards bad behavior. I heard talks that some Democrats proposed refinancing loans to a new lower adjusted rate. This is horse shit and ...

I was against this bailout from the start, despite all the smart people warning us that our life would end in an apocalyptic fashion. I would surmise that they all have something to gain, otherwise why would someone like Warren Buffet (who I greatly admire) support a flake like Obama? In any event, I would like to point out something. Democrats are ONCE AGAIN pushing for a stimulus package. For those unfamiliar, a stimulus package is welfare. It is a circulation of funds to a lower income pool of people that is paid for by a higher income pool. Welfare, k? Now, this last stimulus package was supposed to jump start the economy. It is similar to jump starting a car that is missing a wheel, has a broken muffler and the engine is so rusted it looks like a deep sea find. IT WILL NOT WORK. But liberals do not give a shit about this country and if they can pander to their voting class then they will give away other people's money until this country becomes the United Socialist Re...