GREETINGS FROM WALL STREET, SUCKERS
Today’s blog entry is dedicated to all of you suckers, who bought into the need for last week’s bailout. You were warned global economic apocalypse would come if Congress didn’t act quickly and deliver 700-billion-dollars to Wall Street. Let Henry Paulson be your guide … you were told. Sounds more like the script from a holdup.
UPDATE … the global markets as well as our own remain in free fall. Where’s the bailout for baby boomers approaching retirement? They’re patiently watching their 401Ks float out to sea. What was a quarter-million-dollars a few months ago is more like 180-thousand today. House values are sinking and wages are flat. Property taxes … how quickly will those state assessors get back to you now? My guess … not very.
ARROGANCE, INDIFFERENCE, GALL
There is this piece of good news from AIG. American International Group … remember them? The company that needed an 85-billion-dollar government loan to avoid bankruptcy. The executives at AIG have been hard at work.
The Associated Press reports days after tapping into their loan, AIG executives were sent on a 440-thousand-dollar retreat to a posh California resort. While you were worrying about paying the bills and making your next mortgage payment … Uncle Sam was essentially paying for more than 23-thousand-dollars in spa treatments for the AIG brass. See for yourself.
Here’s more for the suckers. Barack Obama and John McCain voted for the government giveaway known as the bailout. They do feel your pain and are more than happy to sympathize with you on the campaign trail. I wouldn’t advise waiting by the mailbox for your free spa treatment though.
I don’t expect more than six percent of you to vote for a third party candidate, although it would surely send a message. It’s much more likely that the masses will hold the feet of Congress to the fire. Maybe voters can actually turn off Dancing with Stars long enough to find out if their member of Congress voted for the bailout. The answer is easy enough to find thanks to the internets.
I’m not much for dispensing voting advice … but I’d highly recommend a vote for anyone, including Spongebob Squarepants, over those in Congress who supported this fiasco. There’s a better chance Spongebob actually read the legislation appropriating these many bucks.
Tags: 401K, AIG, bailout, Barack Obama, economy, Election 2008, John McCain, politics, Wall Street
