Friday, October 3, 2008

The Bailout Passed

Unfortunately, it’s true.

I have to say I am somewhat ashamed of my government right now. I could accept the existence of the bailout if it was based on some mistaken principles; but principle had nothing to do with this. The bailout was padded with almost a 100-billon more dollars (on top of the 700 billion) for things that had nothing to do with the financial sector, to buy off dissenting representatives.

Shameful. It almost makes me wish the first bill passed. Not that it would make much difference.

I will follow this story as long as it is possible to (and the effects of the bill before it gets lost in natural economic confusion.) For those still interested, keep doing research, and maybe in the future history won’t repeat itself. I implore all of you to do think, debate, and apply logic (and if you interested, look at the Swedish banking crisis in 1991 or the real-estate crises in Japan at around the same time; both have a great deal to say about what's happening right now.)

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