Friday, September 19, 2008

There are

no more conservatives. Bailouts for everyone. I just want to know where my bailout is???? I don't really need one, but thats not the point! Bear Sterns, Fannie May, Freddie Mac, AIG! Give me a break. As much as I can't stand Olberman(I watch him to keep up with the other side) he had a headline for one of his stories titled "Private profits/Socialized losses" in regards to all the bailouts going on. I didn't actually watch the segment, but the title summed up my feelling on the issue quite nicely.

Funny though, how the Democrats like Socialized profits/Private losses when it comes to the oil companies.

All of the companies listed above are in dires straits because of poor decisions that they made and they should suffer the consequences. AIG, a huge international conglomerate, primarilly involved in industrial/comercial/consumer insurance, ventured into insuring bonds (aka Credit Default Swaps/CDS). To say that AIG did not understand the risks associated with this type of insurance is an understatement. Credit Default Swaps are almost exclusively responsible for AIG's percarious situation. That gamble has turned out to be a losing one for AIG and instead of suffering the consequences of their risk management decisions, we the tax payers are going to suffer for it.

In any business there is risk and reward. When the government steps in to remove the risk portion of the equation it distorts everything. The government should not be bailing out anyone. Big business nor home owners....no one!!!!

Obama is an agent of change....yea right. His top 2 economic advisors are from none other than.....wait for it....Freddie May and Fannie Mac who walked away with millions as the tax payers were left to foot the bill. There is an agent of change for you!!!

McCain is not much better, though I think he is slightly better.

Increasingly though I thinks it matters not who is in office. They are all slaves to their next election, or their next campaign donor.......

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