Raw Dawg Buffalo: News Speak

Thursday, October 02, 2008

take it on the chin

I am a firm believer that Ignorance and freedom is incompatible. Likewise I accept that my folk, including the members of the House and Senate are just as ignorant as well. Last night in a unique move the Senate grandstanded and passed their version of a financial market stabilization act – this time, 450 pages of feces. Fuck bailing out banks, although I do feel that Paulson messed up when he did not attempt to save Lehman, the truth is that market fundamentalism – the idea that the market can do no wrong, will exist no more jones.

I don’t want to scare nobody nor second guess (to steal a phrase from Sarah Palin - can’t name a single Supreme Court case she disagrees with other than Roe v. Wade LMBAO) nobody on this, but I would like to provide a terse commentary on saying that something is better than nothing, when no one has really thought about this from a pragmatic perspective and just seems to me giving Paulson what ever he needs with out review and thorough examination, is some of the dumbest shit I done ever heard. I figure 200 billion invested in schools, bridges, and even securing our ports will go a lot father than dumping loot in the hands of folks who have a history of looting that has placed us in the mess in the first place. By doing the aforementioned, albeit common sense, I think it would proffer job creation at the grass root level for we know politicians will never be or desire to do any real labor like us common folk. Not to mention it would not take 700 billion if one spent the money on helping folks who own homes like me to keep them, and the steady stream of mortgage payments going to said banks.

Too much credit got us into this problem but now we trying to make folks get more credit. It is nothing more than the banks controlling the government. I mean the standard is obvious is that its cool for folk to make millions while those that don’t, it is cool for them to suffer.

Maybe I am wrong, but I say let them mutha fucas fail, let them take it on the chin. I mean, if I mess up, for bad business judgment, are they gone help me? Where my bail out papers? I don’t even know where the 700 billion dollars went in the first place, I aint get none of that loot did you? When I do my books I do the regular old school accounting, you know traditional accounting methods that match cost and revenues. But Paulson, and HIS bill want me to bail out, excuse me rescue folks that employ the Enron” economically satisfying” approach of accounting for valuing assets and liabilities. Robert G. Haldeman, Jr. wrote: “Fair value derives from “a hypothetical transaction at the measurement date … A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The principal market is the market in which the reporting entity would sell the asset or transfer the liability with the greatest volume and level of activity for the asset or liability.”

I wouldn’t be surprised if Paulson folks from the house he used to run Goldman Sachs laced his pockets to get this shit passed. All I am saying is that I want some to. Bail me out jones, I mean this shit, I aint even no crook.

And yawl talk about Obama, tonight was his first vote since June (i think) in the Senate, and McCain’s, first vote since April. They say this is needed, and all we can do at the moment, but it may or may not be a quick fix and what we need is a well thought out and permanent solution. I just think that this talk of something is better than nothing is feculent, and makes me think they are saying if I had the choice to think something well out versus panicking, I would do the latter. That’s all these two pieces of legislation show me, that these folks would rather panic than think on solving the problem. Shoot, I think DeFazio’s plan is better thought-out than Paulson’s and really like is suggestion regarding banning short selling of stocks - selling'' stock at a lower price before actually taking ownership.

But this is just me, and as I said it ticks me off when the average citizen complains or approves of something, like these bills when they don’t take the time to read them. Ignorance and freedom is incompatible folks; and I will never side with panic over thinking something out thoroughly, why should you? I say let them folk on Wall street take it on the chin, cause it don't impact Main street as they say - newspeak is all it is. vote