Friday, September 19, 2008

A Simple Solution

All it takes to shore up Wall Street and get the US and European stock markets flying high again is for the Securities and Exchange Commission to temporarily ban short-selling (presumably so stock marauders can't sail in and do what these companies have been doing for years -- profiting off the misfortune of others), and then for the US Treasury to promise to pump nearly $1 trillion (that's "trillion" with a "tr") dollars into federal bailouts of badly managed, unregulated investment and banking corporations.

That's my money. And yours. So after taking our invested money (I refuse to look at my 401K balance or check the current value of my pension plan), and squandering it in speculations on derivatives and futures, artificially inflating home values and mortgage values, then selling them at a false profit to make their corporations look more prosperous on paper than in real life, the financial institutions that have behaved the most irresponsibly are in line for more of our money in the form of bail-outs.

We've been waiting for the Bush Administration to come up with solution to the problem that their crazy, whack-ass, "never-worked-and-never-will" policies of deregulation and unchecked free market economy created. This is it, people. In a nutshell, here's Washington's plan:

"We broke it. You fix it."


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