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Posts Tagged ‘dishonest’

Senate Vote Misguided, maybe Foolish

Posted by Reed on Thursday, October 2, 2008

This is draft of email I sent to each of my Ohio Senators. Yesterday they both voted in favor of rescue plan. Yes, I’ve added rhetoric for effect (we can’t not vote forever!). It seems our Senators want to keep helping the cheating culture. It appears more and more, every day, majority of Senators are part of the cheating and dishonesty. I pray, despite Obama’s affirmative vote he is an honest man.

Stupid and Foolish: That’s how you voted.
HELP MAIN STREET – DOLLAR FOR DOLLAR.
I WILL NEVER VOTE FOR YOU
    or your hand picked replacement, ever. (see below).
You are cheating Main Street!!!!!!
You are aiding and abetting Wall Street crimes and cheating culture.
I am sufficiently well educated to understand your vote is misguided at best. I say foolish. You are trying to instill confidence by pushing a rope! I agree with Robert Reish (http://robertreich.blogspot.com/2008/09/bailout-of-all-bailouts-is-bad-idea.html).
You are throwing Main Street bones (increase of FDIC insurance, tax cuts) because they do essentially nothing to help current crisis.

HELP MAIN STREET – DOLLAR FOR DOLLAR – with law passed by the time rescue package is passed (Friday?) is only way for you to redeem yourself.

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Posted in credit crunch, Economics, Economy, liquidity, Politics | Tagged: , , , , , , , , | Leave a Comment »

Current Economic Situation

Posted by Reed on Wednesday, September 24, 2008

Is USA headed to same situation as Japan’s lost decade (1989-1999) or England’s decades of malaise? To whit:

credit crunch – banks not lending due to risk aversion, to repair damaged balance sheets or both,

liquidity trap – businesses and consumers don’t spend, they sit on cash often in expectation of things being cheaper tomorrow (deflation), actual deflation, a lack of trust, or best investment available is cash or short-term notes

True depth and breadth of situation is either not being told by our government (or if known, not reported to it full depth and breadth) or they don’t know because they failed to regulate. I’ve read understand financial situation well enough to think otherwise. Actually, I think we are not being accurately informed because our federal government is being lead by egotists Bush and Chaney (and their party wants to put another pair of egotists in control; McCain and Palin).

What I do know. There is:

lack of trust – by consumers, and between banks and financial institutions

excessive risk taking occurred – to satisfy ego and greed

dishonesty – rampant, wide and deep, the list of companies is broad and deep and covers most of Bush presidency (Enron, Worldcom Sprint, Adelphi, Comcast, Bear Stearns, Lehman, Freddie Mac, Fannie Mae, AIG; lack of regulation by Bush administration)

Posted in Economics, Politics | Tagged: , , , , , , , | Leave a Comment »