The final straw came today when the SEC Chairman (who John McCain rightly thinks should be fired) banned short selling this morning in the financial sector. In other words, investors are not allowed to weigh in on the raging stupidity of the upper management of the banks and investment houses. The appalling decisions of these fat cats, unmatched even by the extreme incompetence of the federal government, will not be punished in the marketplace. The government has ordained success, which means failure and complete collapse is assured, though postponed for the moment.
I have news for Mr. Paulson and Mr. Cox; that kind of activity used to be called Free Enterprise! Myself, I’ve never participated in it, but should have.
This is the final destruction of Western capitalism as we know it. The center of capitalism now moves East, ironically centered in a country whose government- in every other aspect- is a Communist regime. And this destruction has occurred at the hands of a so-called ‘conservative’. Michelle Malkin is just as disgusted.
On a side note, it is interesting to note how the Imperial News Media is talking about how the ‘federal government’ is doing all of these bailouts. Only one-third of the federal government is involved here, the third the News Media types normally refer to as ‘the Bush administration. By using the term ‘the federal government’ they are acknowledging their support for this action; not surprising, since most of the media has socialist tendencies.
Not that either presidential candidate is much of an improvement, since even McCain wants more regualtions. Still, he’d be better than Obasma, whose key financial advisor used to run Fannie Mae and did so badly. That’s like getting navigational advice from the captain of the Titanic.
Filed under: Barack Obama, John McCain, Politics
Lesser of two evils, man.
McCain and Obama are respectively 999 and 1,000 on a list of 1,000. hehem, at the bottom of the list.
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This type of thing is exactly what Ayn Rand predicted in Atlas Shrugged and just as her characters asked then I ask of the government now.
bailout?
By what right?
By what standard?
It’s rather a stretch to call Franklin Raines Obama’s “key financial advisor.” He has been quoted as saying he received a couple of phone calls from the Obama campaign asking some general questions about housing and economy issues. Do you have evidence of a closer relationship?.
To reply to Factcheck regarding Franklin Raines:
It was reported in the Washington Post that Raines was a financial advisor. No one from the Obama campaign disagreed…at least until the stuff hit the fan.
Before it became an issue…report was fine. After it became in issue…”oh no, he isn’t.”
Nuff said?
[...] I wrote this 3 years ago, predicting our kids will start considering emigrating in 5 years- even BEFORE Obama’s election. And I am beginning to hear such talk from some youngsters. The picture is of a grocery shopper in Zimbabwe- is where BOTH parties are taking us. I also wrote another commentary about the same time on so-called GOP ‘Leadership’; both the assessment and the possible source of better people is applicable. This was an interesting post I wrote about our economic choices in the 2008 election between Obama’s quick economic death and McCain’s slow one. Again, pretty good predictions. And this shows that I was just as ugly about Bush’s socialism as I am about Obama’s [...]