Bailout not really bailing

by wonderfullyrich on October 27, 2008

I don’t mean to be the typical indignant blogger, but I thought I’d express my frustration with our government oversight given that according to this article with the new york times, we just gave these banks a 700 billion dollar blank check. This blank check business enrages me, as there are only so many straws before the camel breaks.

Of course I tend to take a more long term view on things, with the markets oscillating wildly, I’m ignoring them as the Dow isn’t a good indicator of economic vitality (or credit liquidity), and rather I’m just trying to stay on course in my own life and maintain assurance that things are incrementally getting better. I do realize we are going to get some more regulation with a new president, and that we are likely to see a development of better oversight, but this is a systemic problem that needs compressive understanding before comprehensive change can be applied.  Not to mention that neither candidate will bring the systemic change that we need to our federal government.  (i.e. Whomever side you support, don’t get complacent!)

As I look back at it, I am beginning to think the whole bailout was a mistake and that the House was right the first time they got the bailout.

In the end though, to make things better we still need to continue on education on the personal level, of ourselves, of our peers, and especially of our children.  The world we live in is not sustainable the way it is, and those who believe otherwise are in for shocks like this financial crisis when the dirt under the rug begins to burst.  I’ll keep doing my job of making technology work against the military industrial complex, you keep asking questions, writing your congressmen, and especially Voting, and we’ll likely make the world more sustainable before crisis management becomes the norm.

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