Thursday, December 6, 2012

Government is Soooo Bad…

Republicans keep saying, “business is good, government is bad.”

The financial services industry (Wall Street, The Market, etc…) used mortgages and mortgage based ‘investment instruments’ to crater the US economy in 1986 and 2007; both times bailed out using 100s of billions of taxpayer’s dollars!

These bail-outs are socialized failure for the very same financial services casinos on Wall Street that had pocketed enormous sums of other people’s money pretending to create more and bigger short term wealth from the 15 or 30 year investments that are home mortgages.

Mortgages are most often 30 year investments for average consumers buying a home.  Mortgage payments are structured in a manner that requires federal, and some state, government subsidies (income tax deductions) to be acceptable to consumers.

Isn’t it interesting that a political party, so vocal about the success of private businesses, insist that huge quantities of public funds from the big, bad government be funneled directly to rescuing those same businesses when they are found caught in traps of their own making.   

1 comment:

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