Kill em all, yada yada yada......
The government appears to be considering the acquisition of a 'stake' in the banking system to give it some stability and restore confidence to the financial markets.
Goodie.
At various times over the past couple of years, I have noted, (a nice way of saying "whined about") the trend towards the concentration of wealth in the hands of the very few through otherwise friendly and benign means. Reverse mortgages, financial contracts that limit access and flexibility in handling your own money, (who hasn't heard the tagline, "it's your money, use it when you need it! The kicker is in order to do that, one gives up 60% or more of "your " money).
We have entered an era of government control of our lives, and very soon, (if not already), we will have passed the point where any change short of destructive revolution will be impossible.
In what was generously called a debate this week, the two major presidential candidates postulated on what could be done to alleviate the plight of homeowners who were caught in the financial crisis that they had no part in fomenting. To my and many others surprise, it was John McCain who out liberaled the liberals with the idea that his plan would buy mortgage notes, renegotiate the principal amount as well as the interest rate and thus make the investment a bit more affordable for those who would try to stay in their homes. I really wonder what percentage of the bad loans that is? And I wonder what the endgame is? Will the government remain in the housing business, subsidizing mid-priced as well as low cost housing, or will this real estate become another sweetheart deal for campaign contributors down the road.
Just because we don't know who they will be just yet, the amassing of political as well as financial capital in the hands of a political administration stinks. It is not simply influence, but the ability to buy power, and it is dangerous.
I hate to say it, but the time has come to let the whole mess crash.
Write in Ron Paul.
Goodie.
At various times over the past couple of years, I have noted, (a nice way of saying "whined about") the trend towards the concentration of wealth in the hands of the very few through otherwise friendly and benign means. Reverse mortgages, financial contracts that limit access and flexibility in handling your own money, (who hasn't heard the tagline, "it's your money, use it when you need it! The kicker is in order to do that, one gives up 60% or more of "your " money).
We have entered an era of government control of our lives, and very soon, (if not already), we will have passed the point where any change short of destructive revolution will be impossible.
In what was generously called a debate this week, the two major presidential candidates postulated on what could be done to alleviate the plight of homeowners who were caught in the financial crisis that they had no part in fomenting. To my and many others surprise, it was John McCain who out liberaled the liberals with the idea that his plan would buy mortgage notes, renegotiate the principal amount as well as the interest rate and thus make the investment a bit more affordable for those who would try to stay in their homes. I really wonder what percentage of the bad loans that is? And I wonder what the endgame is? Will the government remain in the housing business, subsidizing mid-priced as well as low cost housing, or will this real estate become another sweetheart deal for campaign contributors down the road.
Just because we don't know who they will be just yet, the amassing of political as well as financial capital in the hands of a political administration stinks. It is not simply influence, but the ability to buy power, and it is dangerous.
I hate to say it, but the time has come to let the whole mess crash.
Write in Ron Paul.
posted by eccentric recluse at 5:26 AM
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