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Published Letters: 396
Rather than attempt to assign specific blame for this financial 'collapse', since as some here have surmised that would include everybody from your branch loan officer to the CEO Merril Lynch, perhaps the more urgent task is to address what the hell I'm going to eat tonight. A cocktail would be nice.
I say the fundamental, underlying Financial Problem is this: the equitable distribution of wealth. ... 'Is it possible for one member of a family to be subjected to the utmost misery and to abject poverty and for the rest of the family to be comfortable? It is impossible unless those members of the family be senseless, atrophied, inhospitable, unkind.'
bah.
~ Cocktailhag. equitable distribution of gun and ammo is essential for it to work properly. I don't know how ... you always seem to leave me dis-armed./
wily.
Paulson's Proposal this morning in a nut-shell:
1. The problem is that the credit markets are "freezing" fast. Currently, they are just "clogged."
2. Therefore, the credit markets need "liquidity" (*total amount to be determined... but if you have to ask.) lest asset holders lose complete confidence and start "dumping" too much.
(whilst musing in the library) Well, first off, I can't tell if this guy is from roto-rooter or a high-dollar financier. (Either way, we (i.e. he) could buy a can of Drano for $2.99 and save a ~$trillion or so, seems to me.)
Secondly, the credit markets have been 'freezing-up' for some time now. In case Paulson missed it, the $million McMan$ions haven't been moving very well for, oh, going on a couple years now. A $million note on a home that cost >100k to build ... well, good luck Shooter.
Thridly, even if there are financial institutions that are 'too big to fail' - that the net cost to public would be greater if they failed - that in no way is an arguement for a dang-freaking "blank check" for Paulson Pecker Head or anyone other than those designated to hold the purse strings ...
wait a minute...hold your dang horses, save your ponies and ride a congress critter.
whoa nellie,
bah.
