Interesting People mailing list archives
Re: An Observation on the Bailout - For IP
From: David Farber <dave () farber net>
Date: Fri, 26 Sep 2008 18:18:01 -0400
Begin forwarded message: From: Ross Stapleton-Gray <ross () stapleton-gray com> Date: September 26, 2008 5:26:02 PM EDT To: dave () farber net, "Jonathan S. Goldstein, Esq." <jonathan () pobox com> Subject: Re: [IP] An Observation on the Bailout - For IP At 02:09 PM 9/26/2008, Jonathan S. Goldstein, Esq. wrote:
As I watch all these Fortune 500 execs falling all over themselves toget this federal bailout money, I am reminded of a story from childhood.A vampire cannot enter your house to kill you unless you invite him in. He often shows up at the door under the guise of an inviting persona to con you into gaining admittance. Once in, however, he'll kill you in your sleep. Mark my words, these execs and their shareholders will rue the day they gave a seat at the table to the federal government...
I was completely expecting the story to take a different turn: I thought you'd say, "Mark my words, we'll rue the day we let these financial executive vampires in to suck more of our collective lifeblood through public dollars being thrown after private ones."
Why exactly should any of these corporations, which were realizing profits on the imaginary assets they controlled, get another bite of the apple (or neck, I guess, to extend the metaphor)? Shame on our government leaders for failing to appreciate the increasing risks and impending disaster (what if the Bush administration had begun to exercise its authorities to demand fiscal restraint 4-5 years ago, instead of proposing a $700B bandage today? What? The economy might have slumped a bit and they'd not have gotten re-elected? Wha?), but why should we (as taxpayers, and as those who elect the government making the policy decisions) permit risk to be socialized, and reward to be privatized, so grossly?
Ross ------------------------------------------- Archives: https://www.listbox.com/member/archive/247/=now RSS Feed: https://www.listbox.com/member/archive/rss/247/ Powered by Listbox: http://www.listbox.com
Current thread:
- An Observation on the Bailout - For IP David Farber (Sep 26)
- <Possible follow-ups>
- An Observation on the Bailout - For IP David Farber (Sep 26)
- Re: An Observation on the Bailout - For IP David Farber (Sep 26)