It is now possible to have any toxic debt you may posses bought by the US government to leave yourself free to enjoy your life style and like Catholic confession absolve yourself from any blame or guilt you might entertain, if you are a large bank that is. Wouldn't that be a nice position for any mere mortal who strives to fulfil all their obligations to their family's, co-workers, employers, governments. That our only requirement at the end of the day is to pay all our bills not amount debt that could sink a battleship and have some cash left over for an illicit drug (alcohol works for me).
It seems to me that GWB top 1% of tax payers has once again received a get out of jail card. Thanks to all the other 99% of GWB taxpayers who now have to foot this bill and live in an altered banking universe, where mortgages that seemed reasonable are now prohibitive, your job may be outsourced, your mortgage outsourced, your war outsourced hell even your government may be outsourced...
It is quite possible that when the dust settles and people are better able to understand the effects of all the turmoil, that we will have an era of a shrinking marketplace, with less cash to spend and less jobs to earn it from.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment