Thursday, October 09, 2008

"If we break, you own it"

YahooNews has this headline: "US government may take ownership stakes in banks" (read more, here--http://news.yahoo.com/s/ap/20081009/ap_on_bi_ge/financial_meltdown;_ylt=ApDC0q8Ac4shPo6ZdfrxeEN34T0D) about the Bushco WH's announcement that the government is looking at taking an "ownership stake" in several banks, in order to calm the financial markets. Nice, for somebody, I don't think for us, though. Finally, the prodigal son is going to justify the faith of his father and his father's rapacious friends in the financial sector. The Idiot-in-Chief was bailed out several times, in his various business ventures, by deep-pocketed people who had an interest in his welfare--a selfish one. He has, at long last, returned the favor--in spades! They only gave him some millions, he's done a bit better. He's turned the U.S. Treasury into the personal pinata of WS investors who have already screwed the American public (and foreign investors) out of $T's (that's $x,000,000,000,000's). Do you remember the Bush rhetoric about an "ownership society"? This: "...if you own something, you have a vital stake in the future of our country. The more ownership there is in America, the more vitality there is in America, and the more people have a vital stake in the future of this country. - President George W. Bush, June 17, 2004 We're creating... an ownership society in this country, where more Americans than ever will be able to open up their door where they live and say, welcome to my house, welcome to my piece of property. - President George W. Bush, October 2004." from here: http://en.wikipedia.org/wiki/Ownership_society might refresh your memory. And this excerpt: "Woodward says that the US Secretary of State, Colin Powell, was keen to impress upon President George Bush the long-term dangers of invading Iraq. To make his point clear, he invoked what he and his deputy, Richard Armitage, describe as the rule in the Pottery Barn chain of stores: "If you break it, you own it."" from an article by Richard Glover (http://www.smh.com.au/articles/2004/04/23/1082616326327.html) might also be illuminative. It appears that the pretendsident has managed to synergize those two ideas into one. The economy is badly broken, in fact it's really, really badly broken and now? WE own it. Us, the American people. Unless of course it turns around. If that should happen the government--if the republicans are still in power--will simply hand the reins (and the property) back to the morons who drove the team over the cliff in the first place. I'm almost happy to have very little money. democommie

3 comments:

Fran said...

One of my co-workers and I were saying just today that it's a sad state of affairs when you're GLAD you don't have any money for other people to lose. *sigh*

But I totally loathe the idea of the government being able to poke it's nose into my bank account, just 'cause they own the bank. It really will make this a company country, won't it?

George said...

Ya ever read nakedcapitalism.com? I can't stop checking it out. No good news but she knows: a. what da f^ck's going on and b. what will be next weeks totally unexpected "news" development as the result of teh gooberment's daily transfer of wealth. After just a few readings even a doomflob like me knows what a Credit Default Swap and the shadow banking system are. Oh, and how totally screwed we are.
Pretendsident....nice one.

democommie said...

george:

Welcome to my little slice of hell. Yeah, I don't got me no degree from the Wharton School or Chicago U., but I know a screwing when I'm getting one.