Pasadena Politics

In reflection on the idea that the Government can make money off of these supposedly ‘bad loans’, I can tell you this: it is pure foolishness.   If these loans are ‘at risk’, then there is no money to make on them as they are expected to fail.   This is more of a pipeline clearance to allow more loans than a rescue of failing, at-risk loans.

For the public  to go along with this would be a great woe as this bail out is lacking strict control and, I say this: retribution against those who let their greed outweigh the responsibility to the borrower and the company they work for.  The current ‘bail out’ is not designed to prevent a financial crash so much as it is designed to allow the various persons and companies who did not restrain themselves to the potential losses from overextended credit to make more money by continued lending.  All this appears do is shift the financial burden of the loan – the guarantee of funds, from the lender to the Tax Payer while rewarding the fellows who brought us this mess with more opportunity to profit themselves.

To the point and from the horses mouths: Regulation was needed but the Democrats killed the idea.

 A “who took notice of the mortgage issue first” which is telling that it was the Republicans and current administration that said we needed to be more restrictive.

 More fluffy in terms of the presentation, but you get the idea.

I post the above , because there is always an element of ’seeing is believing’, more than simply typing words.

The government in the USA was called Uncle Sam for a reason: unlike European countries where the state was ‘Mother’ or ‘Father’ , the USA was ideally one where the Government only stepped in to assist on rare occasion.   The idea that Government will take care of you from cradle to grave is a socialist/communist view and a far cry from an Uncle who steps in only on occasion.  It is also a view that sees the Government as indirect, and not opposing one’s own way of life.

We have Freedoms and Rights, but they are not guaranteed, only protected.   We have the opportunity to grow and enjoy the life God has given us, but that unparallel opportunity comes at a cost: potential failure.   We have people in this country who want it both ways: wealth without consequence of failure.

Let the banks fail.  Remind people that risk vs. reward still exists and let government tighten it’s belt under the decreased revenue.  Just my feeling and musings at this hour prior to bed…