The day you see George Bush and Barney Frank gushing praise for each other is the day you know we’re in it deep! Today is that day. Today is also the day I usually pay my bills, but I just can’t make myself do it right now. Blogging is much more cathartic. I should be spending most of my day working on art, or, in this fine weather, working on my golf. Much of my day has been spent devising a strategy for when the bailout passes Congress. I’ve been looking short term, expecting the market to skyrocket the moment the bailout is leaked (about an hour after members of Congress call their own brokers to buy Fannie Mae) and what to do long term as the dollar dwindles in value as the months and years go by.
Overnight, another bailout was quietly passed which would have been met with outrage in the light of day. The U.S. automobile industry was rescued from their poor decisions over the past decade with a no-interest gift of a mere $24 Billion dollars. Overnight the other credit sectors of the financial community have had their lobbyists demand to be bailed out as well as the incompetent mortgage brokers and auto makers. Credit card companies and auto financing companies that have grown rich over the insatiable appetites of the American consumer want you to pay them your future tax dollars as well as your monthly payments. In effect, they really do want your first-born!
At the very same time, the American taxpayers and citizens have been contacting their government representatives at a rate of between 95% and 99% in opposition to the ‘big’ bailout plan. If there was ever a mandate from the American people, this is it. So we’ll see who owns this country. Will elected politicians, in an election cycle, care at all about their constituents or will they buckle to pressure from both the ultra wealthy and foreign interests? The People’s Republic of Wall Street is putting pressure on our elected officials and I suspect that this bailout windfall is worth buying out every politician on Capitol Hill. Who needs to be re-elected? Despite their very unpopular decision, I'm predicting right here and now that you'll see a lot of smiling public servants who will not be able to contain their glee in the next 24 hours. If you’ve ever chuckled at the term ‘public servant’, hold on to your sides because very soon you’ll be laughing so hard you’ll cry!
