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In Memoriam:

The 700 Billion debacle...
(some thoughts)

…You realized this was coming, didn’t you? Your Republican “friends” got you into this mess. And have they ever gotten us into it! Don’t tell me they didn’t get us into this mess… 

How? Easy. They’re the ones who got rid of regulation. First, it was the airline industry. Then it was the trucking industry. Both of these industries sunk into turmoil once they were deregulated. The trucking industry still hasn’t entirely recovered because of unbridled competition. The airlines sank into bankruptcy; Pan Am folded, and so did a number of others. Then, they started doing the deregulation number with electricity. Now in Massachusetts, you have higher electricity costs. In California, you ended up with rolling blackouts. And still the SOB ninnies insisted on deregulation. Shrink government’s role in your life. That was your mantra, Mr. Republican. Get rid of regulation; let the markets set the price. And while you’re at it…let’s get rid of the regulations that provide for ergonomic rules in the workplace—so that people don’t become permanently disabled by carpal tunnel syndrome. Like someone in my family that I knew, whom it happened to after working in data entry for over 30 years. You wanted no regulation, and a government small enough to drown in the toilet, a la Grover Norquist (may you rot in h*** with all the others of your type!!). Now… 

You’ve got what you deserved, and the innocent person on the street has now a problem that is HUGE. We’re all in deep s***, because of this meltdown, caused by the mortgage industry, and which has spread to other sectors of the economy, not the least of which is the lending—student loan—industry. By any account, it is serious. They’re saying it is the biggest bailout of the financial system since the Great Depression. Even that commentator in the LA times had it wrong when he said, not to worry. He’ll be worrying plenty, when his job disappears, because his company’s business has dried up—helped along by consumers who can no longer purchase the company’s service. Face it…700 billion dollars is not chump change—not even for the United States Treasury. In one stroke, our country's financial position will be worse tomorrow then it is today. This mess is so bad, it will now take an act of Congress for us to get out of it. We had to raise your debt ceiling to 11 trillion dollars, to take care of this bailout. Not even the S&L bailout required that kind of debt ceiling raise to handle—and that mess was the worst situation for the U.S. financial system at that time.

I haven’t been quite the same since realizing that my tax money is going to bail out a bunch of…(fill in any appropriate adjective here) Wall Street barons who took their money and lost it. This editorial is for you, Members of Congress, and George W. Bush.

continued.