Thursday, October 9, 2008


Remember when $750M seemed like a lot of money? That's not even 20% of what Iceland, a nation of 320,000, has petitioned Russia to loan them as their financial institutions feel the ripple effects of this global banking collapse. The $700B infusion of Treasury money is not the "tourniquet" McMatlock claimed it would be. Even those who would seem to be in a better situation than, say, me, are losing their shit. In the end, those who have money are so scared of their stock portfolio's nosedive, that they are hoarding cash . That money desperately needs to flow through banks and channels of commerce for the world to recover. Eventually, this needs to come to a head. One way or the other. I am reminded of the poetic words of Lemmy Kilmister (no relation) when he said, "Come on baby, eat the rich Put the bite on that son of a bitch Don't mess around, don't you give me no switch C'mon baby, eat the rich." I have always been of the opinion that cannibalism should be reserved for alpine plane crashes, but when I hear about a junket of fewer than 10 high ranking executives from AIG spending nearly half a million dollars to celebrate their temporary salvation from bankruptcy, I question our morals as a nation. Greed of this sort should be punished, but it rarely is. One of the highlights of the Obama campaign, for me, is that his tax plan basically tells the upper crust that they are indeed their brother's keeper. Seeing as they have set up a system which overly compensates those who are already well compensated, they shouldn't mind. When this all shakes out, they'll just find a new way to stick it to the little guy.

1 comment:

Randal Graves said...

The bastards up top will always find a way, but I'd rather them do it with a wee bit less funding at their disposal.

Lemmy fucking rules.