So it seems that our enlightened leadership in the Administration, having pissed away what the accountants will eventually calculate as over $1 trillion on a war against those who attacked us on 9/11 – I mean, a war against those who had weapons of mass destruction that they were 45 minutes away from using on us – I mean, oh, never mind.
Now they want to bail out the clowns who were dumb enough to, in their frenzy to seek ludicrous profits through lending money to anyone with a pulse, get themselves leveraged to the hilt with dubious levels of debt. We’re bailing out an industry that demanded deregulation, which they got.
How did responsible taxpayers get stuck with this fucking nonsense?!?!?
Now the “Plan” to save us from a financial meltdown – whatever that means – is to turn on the printing presses, allow the major banks that managed to dodge the bullet until now (too bad Lehman, you were SO close) to unload their toxic debt to the US taxpayer and come out unscathed while we pony up ANOTHER $700 billion.
And what about those approximately $30 BILLION in bonuses paid out to Wall Street in 2007? Are they going to return those? Hell no.
So, for those of you expecting to get funding for your pet projects (e.g., Space Based Solar Power), I suggest one of the following two strategies:
1) Rush to the White House and get them (and their co-conspirators in Congress) to write you that $100 billion check you need to get your program underway while they are still acting like drunk sailors on shore leave, OR
2) Kiss your pet project goodbye and find something else to focus on, because the US government is going broke.
BTW, don’t be surprised when our grandkids decide they hate our generation(s) for saddling them with trillions in dollars of debt for things they had nothing to do with. What a legacy.