Holy Buck, Fatman!

While I was gone on my Asian Adventure Vacation, The U.S. Economy simply tanked for lack of a better word. I’m not going to rehash what has happened in the last few months simply because it’s just too depressing. What I will say is this: All your unfettered free market deregulation champions are a BUNCH OF HYPOCRITES. (Yes, Grover, I’m Looking directly at YOU).

I’ve recently learned that in the mind of a rich person lurks a pretty selfish line of thinking. They honestly believe that the root of all the financial problems that have happened are simply because people “made poor choices”. No one should be bailed out if they are stupid enough to get into loans that are over their head. No one should be helped, they did it to themselves! Read the papers! Understand your risk! Know what you can afford! {/sarcasm}

BUT—when you are an investor and you stand to loose millions off of weird financial products that a precious few understand, well…the Government better help out right away! It doesn’t matter that investing is a known risk and if you choose to invest in something that is strange at best, well…it’s like betting at the craps table in Vegas—you could loose everything.

Ever see the disclaimers on investment websites like E-trade and stuff? They clearly state that none of their accounts are FDIC insured like your bank is because—INVEST AT YOUR OWN RISK. Do your homework, make sure that you understand what it is you are investing in before you do it. I know that. I take my time to read. It’s a simple lesson my dad taught me early on—-read read read everything and know what your risk is, even if you percieve it to be minimal–just be informed.

It just BOGGLES MY MIND that all these high powered investors don’t want any sort of regulation, but seem to believe they “deserve” to receive MY TAX DOLLARS to make sure their investment house doesn’t go bankrupt and they get their money’s worth from their investment. It would be like me buying a bunch of scratch off tickets only to realize that I spent thousands on something that I LOST money on! So, I’ll just ask the State for my money back! I won’t see a dime of their investment money. For all I care—they should all loose the shirts off their back, loose their jobs, go into forclosure on their over priced homes, cars and credit cards and go back to be regular joe standing in line at the unemployment office.

Isn’t that what happens to us when we make “Poor Choices?”

UPDATE: See? The Fed can Bill the Treasury! SEE, FOLKS?!?!?  Government handouts are OK when the uber Rich stand to loose a buck.