So, I posted a little blurb about checking out my blog to learn why I thought AIG should get to keep their bonuses - yall understand....It seems to be the dead horse I am beating lately, bless his heart.
Anyway - I WAS TOTALLY BLOWN AWAY by the number of responses that were basically along the line of that the Government needs to do something - tax, oversight, something and not let things keep going as is....
So here is my rant - one that I really didnt feel I should post on Facebook as I like those people ;) Not that I dont like yall - I ADORE YALL - but I see a lot of those people on a daily basis and to just blurt out my libertarian, finger to the government, preparedness-self to them might end our friendship or at least put a major damper on our invites - we are popular people, ya know ;)
Anyway, here it is....GOVERNMENT INTERVENTION IS THE LAST - L.A.S.T - thing we need. If the Government had kept their opinions, laws and their self-righteous self to themselves, this whole mess would have NEVER HAPPENED.
Nope - The housing bubble, AIG, Mortgage Crisis, Bank Crisis, Inflation - ALL OF IT WOULD HAVE NEVER HAPPENED.
There isnt a mortgage company or bank out there that wants to go under - not a one.... And as such, there isnt a bank out there that would have lent money to the people it did. The ONLY reason these institutions lent the funds was BECAUSE of Government intervention. The Government MANDATED to banks that they MUST meet certain Quotas to people who made a certain amount - turns out that those people made so little that they couldnt pay their mortgage....
These Banks KNEW that the people they were giving the money to would not be able to pay the money back and so what did they do....They bundled them up and sold them to other institutions. Ya know what, I dont blame them one bit. They were forced to loan crap loans and so to ensure that their bottom line wasnt rocked, they sold those crap loans as quick as possible.
It was a HUGE FINANCIAL HOT POTATO game that came crashing down - all created by the Government.
And to keep things going, home values had to keep going up - banks had an interest in getting an appraisal that beat the previous one in order to sell the mortgages....trying to get out from under the dud of a mortgage that was previously taken out on a property....the Flipping Phase was born....it was all crap - everyone in America knew it....we were all sitting on our couches watching shows like Flip this House and wondering how an out of work guitar player in California could afford a $350,000 mortgage on a 1 bed/1 bath dump... Seems like the entire country knew this was crap except about 5 different states and we sat on our couches and laughed at those idiots....at least, I did....
If the Government kept their nose out of things, this entire fiasco would have never happened.
I just hate that the free enterprise system is getting the bad rap when its the Government - AGAIN - who screwed everything up....when are people going to learn that the only thing the Government can do well is the Military - and that do that VERY WELL....
Whew - this concludes my rant that I couldnt explode on my Facebook friends....and those of my Facebook friends that read my blog, you already know where I stand, and so far it hasnt hurt our friendship ;)
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8 comments:
You summed it up pretty well. The government is corrupt. These bailouts are an attempt to preserve that system. They may have over-reached and it will come crumbling down anyway. I didn't have enough kidlets to pay enough taxes for what these revenuers spent. I am ashamed of what our generation did to the ones that will inherit this mess.
Well Pearls, "popularity" aside, this is something those sheeple need to hear. But I can understand your reluctance... I don't mind wearing the "kook" hat, but some would rather not. I don't care what people think of me.....
I'm with Mayberry (us kooks gotta stick together). You have a responsibility (my Meadowlark, we ARE bossy today) to educate the sheeple. If people only like us when we're being likeable, do they really like us at all? Just thinking out loud.
You left out the snake the government sold - this was an affirmative action program. The stated intent was to get inner city people into homes-with-assets, just like the people that actually made enough to buy a house.
The other snake oil was that the Fannie Mae and Freddie Mac (both back to issuing sub-prime mortgages again, thanks to the stimulous package - can you say, "here we go again!"?) would cover the losses. If any. Except losses were all there were, for an increasingly large chunk of the economy.
Now we have an affirmative action-bent POTUS, and a Congress that wants to keep funneling tax money to their friends and Freddie Mac and Fannie Mae (they make such *huge* campaign contributions!).
First, let's investigate influence peddling in Congress, then Acorn's contributions to the mess (like the "protest" they staged for Reid/Obama/Pelosi about the AIG executives) and ACORN's plum task, the 2010 Census, Constitution and Commerce Department be damned.
Yes, let's have government straighten all this out, along with the NAIS (animal registration) and Food Safety Administration (register everyone that produces, handles, transports, or stores food, except some restaurants - animal food, people food, or something that goes into animal or people food).
Not.
Thanks, Pearls.
Too true, Lady. If Uncle Sammie would uninsert his schnozz for the anal sphincters of any and every individual, mayhap we could get some.. hell, I dunno. Peace, maybe?
At least a comfortable night's sleep...
The facebook fearful one here....and I LOVE this rant!!!!!
Government intervention is how we got where we are. Government intervention is absolutely the LAST thing we need now.
Meadowlark - So I got unfriended by someone today on Facebook - I will wear that as a badge of honor :)
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