Tuesday, September 16, 2008

You can't have flat out capitalism!

Here we are again, 20 years after the Housing and Loan scandals and the near collapse of the Savings and Loan industry we are back once again in a national trauma thanks to a completely irresponsible Republican government and an incredibly greedy business community. Fanny Mae, Freddie Mac - government bail out. Bear Stearns - government bail out. Merrill Lynch - rescued by Bank of America. AIG - in line for bankruptcy? Lehman Brothers - survived the great depression only to declare bankruptcy after an uncontrolled feeding frenzy.

Here's two words to remember:

Invest: To spend or devote for future advantage or benefit

Gamble: To stake or risk money, or anything of value, on the outcome of something involving chance.

Why remember them? The Republicans are about gambling, not investing. The only difference is that when you gamble and lose, you lose. When a CEO or Investment Bank gambles and loses they walk away with a Federal protection package.

What type of economic scenario do you think this administration favors? Let the market be our guide. The market is guiding us down the toilet.

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