Dr. Housing Bubble 09/25/08

[Crewleader]

Dear America, If This Bailout Fails, you will Fail. 2008 Financial Fear Mongering Tour.

As I eagerly await the bread and circus theatre to resume tomorrow, has anyone seen any details on the $700 billion plan? The plan ushered over the weekend by Henry Paulson was an absolute joke and mockery to our economic system. He back peddled and stated that he wanted to keep it as “simple” as possible so discussion in Congress would move much smoother. What in the world is simple about asking that any actions taken by the U.S. Treasury are not reviewable by a court of law? There was a quick firestorm from economist, bloggers, and anyone with an ounce of commonsense how absurd the 3 pages bailout was. Even with the additional modifications to the plan of CEO compensation, equity sharing, and oversight no one is asking the most important question. Why in the hell do you need $700 billion? The mainstream media seems to be neutral about the bailout.

Ben Bernanke, Paulson, and Bush went on their financial fear mongering tour basically saying that if you don’t pass this bailout, the world as you know it will implode on itself. Little do they know that in many cities people are already struggling and have very little to lose if they haven’t lost everything already. This is what the President had to say:

“I’m a strong believer in free enterprise. So my natural instinct is to oppose government intervention. I believe companies that make bad decisions should be allowed to go out of business. Under normal circumstances, I would have followed this course. But these are not normal circumstances. The market is not functioning properly. There’s been a widespread loss of confidence. And major sectors of America’s financial system are at risk of shutting down.

http://www.doctorhousingbubble.com/dear-america-if-this-bailout-fails-you-will-fail-2008-financial-fear-mongering-tour/