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Friday, October 3, 2008

Green is the color...

of money.

I thought I was going to have an interview with San Francisco Mayor Gavin Newsom and Economist Magazine discussing Green city building and infrastructure, but something happened with technology and it isn't happening.

I wanted to discuss the bailout. They are back to labeling it as such, again. I guess I don't quite understand things, as I know that the bad loans and foreclosing properties don't cost near $700B I am unclear as to why that is the number that the taxpayer is liable for?

It seems that a more palatable balance to the bad loans is around $40B or so. This would cure the real estate mayhem that has crushed our economy. What is the other $650B for and what ever happened to the first $200B that has been granted out over the past few months. None of this smells right.

It is a pressure play to acquire the money, lobbyists have added their pork to the sides of this with the rewrites and Congress is now pressured to make something happen since the spines of the Senate have played this game. Since Bear Sterns has been bailed out and their private offshore havens are guarded from public view I guess it is time that the Senate gets their share?...

This just stinks.

Since the taxpayer is screwed out of these funds either way, perhaps we should, at least to make a decision one way or the other, take some time with this to allow more thought and insight to the situation. By doing this before Nov. 4, simply gives Bush more time to piss away the funds.

Obama thinks there will be money left when he gets into office to help people and work with...shit, there is no money to begin with as this is coming from the future earnings of Americans. This is much like their most recent Exit Tax I wrote about back on June 6, 2008. The government is now allowed to tax expatriates their "future" income.

This style of bookkeeping does not work. It is self defeating and will fail! Guaranteed!! The numbers cannot add up!

1 comment:

Anonymous said...

Hi Doug:

Green is the color of greed too! You are so correct - what is all of this money for? I would like to see exactly why they need $700B. Is there a way to find out exactly what this money is going towards...you know a spreadsheet of some sort? I wonder where they came up with this number to begin with.

And I agree with you, what is the rush? Weeks have gone by already. Homeowners need to stick it out - why not the corps? I wouold feel much better if they took their time. I mean this is a lot of money to just throw around and not spend time thinking out thoroughly. That is how mistakes are made and corruption can slide in.