Wednesday, October 15, 2008

BAILING OUT THE CRAP MERCHANTS

Uncle Lou coined the term "crap merchants," and used it judiciously for certain types of companies and people. The term sprang immediately to mind when this economic collapse really kicked in a few weeks ago and the politicians started arguing about what to do. And oh what a scene it was and is - lots of chickens running around with their heads cut off (which I guess is the same as a bunch of politicians running around with their hair on fire).

700,000,000,000. Seven hundred billion. Wow! Dollars. $$$

Where does all this money come from? Will it really get paid back? Is this really going to fix anything? Questions.....questions.....

People in this country are rightly angry and nervous - even frightened - about the economy falling to pieces around us. What galls many of us the most is the fact that many of the executives in charge of the failing companies have been taking home huge salaries and benefits, even as their empires collapsed. Will these people - the Crap Merchants - be punished or held accountable for the results of their unbridled greed? We'll see.

In the meantime, many Americans are or will be suffering as their retirement funds shrink, their homes are foreclosed, their jobs disappear, and the cost of living continues to escalate in the face of shrinking real income. The growing anger of the American public will surely be felt at the polls on November 4, and let's hope the result makes a difference.

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