Posts Tagged ‘bailout’

The angry nation

October 4, 2008

The United States of anger and resentment, one commentator agrees. And the commenters on what the commentator said lays it out: Middle America is against Wall Street and Washington. Washington is now against Wall Street and for Main Street. Republicans are against the Democrats. Democrats are against the Republicans. The banks are against the people with bad loans. The people with the bad loans are against the banks who gave them the loans. The free marketers are against the regulators. The investors were against the regulators before they weren’t anymore. A few are against the notion of keeping the country in one piece. And nearly everybody is against the Congress. As Hank Williams Jr said:

Mothers against drunk drivers
The Pope is against the pill
The Union's against the workers
Working against their will
The President's against the Congress
The Senate is against the House
People are against Politicians
...
The City's against the County
The County's against the State
The State is against the Gover'ment
And the highway still ain't paved
The Banker's against the Farmer
The Farmer's against the wall
...


But I'm for love ... and I'm for happiness
And I'm for ... if you don't like it
Can't you just let it pass
And I'm for turning off the tube
And turnin' down the light
'Cause I'm for nothin else
But me and you tonight.

Now if we could shut off the boob tube and get a little snog, everything will be just OK.

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American democracy providing an example

September 30, 2008

For what not to do in a major financial crisis. UK Tory leader David Cameron has pledged support across the parties in order to avoid what has happened in Washington. “Democracies were being tested,” said Cameron, who will quite likely become the next PM of the UK. Meanwhile PM Kevin Rudd of Australia is urging passage of a bailout plan in America.

Banks’ House rep voted no on the bailout

September 30, 2008

Wonder if anybody around here as noticed that Sue Myrick (R) of the North Carolina 9th District, despite the pleadings of the likes of Warren Buffett and Microsoft, voted no on HR 3997, the $700 billion bailout plan. Her district includes the corporate headquaters of Bank of America and (soon to be decimated) Wachovia. I figured (could look it up) the two banks have probably given Myrick, you know, money over the years and she is a former mayor of Charlotte. Interesting.

We’ll all be picking lettuce in Mexico without the bailout

September 25, 2008

Lead story on my Bank Systems and Technology email by a teenaged reader. He does offer the intriguing prospect of paying for the bailout by using the funding for the Iraq War. Odd story though for a tech newsletter.