Tuesday, October 14, 2008

Can you feel the winds of change?

We, taxpayers, paid for a bail out of the trouble caused by the financial entity charged with making home loans (the Savings and Loan businesses) without solving the underlying problems: too much easy credit, not enough regulatory effort. That was 1987 and the Reagan administration did not want to expose the underlying problems, because it would expose the sordid underbelly of 'trickle down.'

So, here we are, again, bailing out the culprits with a concerted effort to avoid the root causes of the problem.

The difference this time is that people's wallets have been affected too often by the detrimental nonsense that is 'trickle down;' leave the richest folks with the least responsibility for, and no oversight for their activity in, the environment that allowed them to earn such wealth in the first place.

There's an election, early voting starts in the next few days, this year and the winds of change are in the air!

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