by Deb Cupples | The $700 billion bailout plan was sold to Congress (and to us taxpayers) as an absolutely necessary means of getting banks to again start lending money to businesses, people, and other banks — the goal being to unfreeze the credit mar…

But my Mother-In-Law has her own place, so maybe I’m better off than you.

I like the post after yours.

1. I’m 64 years old, not on SS,unemployed over a year, can’t find a job other than Walmart greeter, no unemployement, paying my own healthcare($1,079.00/mo), kid in college($2,265/mo).

2. House has dropped $100K in value over the last 2 years. Probably couldn’t sell it anyway, the RE market is shot.

3. My IRA has dropped $100K in the past year.

4. Have MM account with Countrywide.

5. Have CDs with WaMu.

6. Have my insurance with AIG.

7. Live in Jersey, $12,000 per year in property taxes and the state is bankrupt($14,000,000,000 in debt). Needs a BAILOUT.

8. My mother-in-law lives with me.

…I mean W.T.F. is goin on. I’ll tell ya my take. What do large government bureaucracies(like IRS, SS, Medicare etc), hugh corporations(like GM, Ford, Lehman, Merrill Lynch, AIG, WaMu, Countrywide) and the Catholic Church all have in common???????

They are all run by old, ineffective, head in the sand, inept managers who are surrounded by ineffective exectives and all of them operate in CMA(cover my ash) mode daily while striving to fill their own pockets. You may say, where the hell did the Catholic Church thing come from? Well, I was very involved first hand for many years and I witnessed the ineptitudness first hand.

Bottom line is, they are all bloated behemouths who by their very size are complete failures financially. Bigger is not always better.

On September 17th, 2008 at 1:23 pm, bvw said:
30 pcs, lining up bulldozers to stop an avalanche comes to create an avalanche of bulldozers. The article you linked two posts back talked about creating a super-agency to focus on systemic risks. Whoa!

I didn’t say I agreed with everything in the article. I posted it for those among us who don’t have enough information about this debacle and are searching for it. Besides, I think you would find that I am the last person who thinks more goverment intrusion is a good thing.

The way reality works is that the worst systemic risks can not be predicted, like the Providential assistance we all pray for day-by-day. Market systems always aggregate power unto unstable tops of mountains, whether those systems are highly regulated, communist, or capitalist.

Yes, I am aware of how reality works. I live in it, after all.

Very severe market busts are unavoidable.

Yes. I concur.

The best we can hope for or achieve is this — to have a system that is honest and fair, that helps people learn to be good souls, and to take on adversary and radical change of fortunes with a good heart, and justice for all malice towards none. Only one set of honest weights to use on every scale.

I concur.

If that sounds pedantic and hoary, then it is the reader’s ear that is sad with woe and poisons of the day, for it ain’t. It is light and joyous, the Liberty Bell clanging without a crack. Go get a happy ear and reread it.

Why so snarky?

The way reality works is that the worst systemic risks can not be predicted, like the Providential assistance we all pray for day-by-day. Market systems always aggregate power unto unstable tops of mountains, whether those systems are highly regulated, communist, or capitalist.

Very severe market busts are unavoidable.

The best we can hope for or achieve is this — to have a system that is honest and fair, that helps people learn to be good souls, and to take on adversary and radical change of fortunes with a good heart, and justice for all malice towards none. Only one set of honest weights to use on every scale.

If that sounds pedantic and hoary, then it is the reader’s ear that is sad with woe and poisons of the day, for it ain’t. It is light and joyous, the Liberty Bell clanging without a crack. Go get a happy ear and reread it.