Friday, October 03, 2008

From the mailbag: A picture that says what I think I might think about the Wall Street Bailout were I adequately informed

I received a picture in my mailbox this morning; you may have already seen it. (I don't generally get in on the ground floor of the trends.)

But I think the picture just about sums up my preliminary feelings about the Wall Street Bailout Bill.

Why "preliminary" you ask?

Because I haven't read the bill. I haven't studied it. This link will take you to a Government Printing Office site at which you will find what I believe is the version of the Bailout Bill passed by the Senate and back in the House today. It's 442 pages long.

The so-called Bailout Bill covers a lot more than just putting money into Wall Street to get credit moving again. For example, the bill would repeal a 43 cent excise tax on wooden arrows -- you know, bow and arrow, cowboys and Indians arrows? Seriously. The bill, as amended, now bails out Wall Street and youth archery programs. And just in time, too: When the economic collapse is through, we may all need to take up bow hunting in order to keep eating. (Hat tip to Some Have Hats.)

For a politician, crisis creates opportunity. Just like a riot creates opportunity for looters. Or like a big distraction creates an opportunity for pickpockets. Just like. So... while everyone's wringing their hands over the necessity of doing something to save the economy, politicians are figuring out how to sneak their pet projects past the unsuspecting public. As with the wooden arrow excise tax repeal.

Who knows what else is in there?

Nevertheless, I am certain that some sort of relief is necessary to keep the banking system afloat. We should save the system, then jail the bankers and mortgage brokers and everyone else whose bank fraud brought us to this pretty pass. So, I guess, this makes me sorta, kinda on the side of those who seek a bailout. (Just -- maybe -- probably -- not this one.) Anyway, to the picture in my email this morning:

It's so nice to realize that our elected officials in Washington are taking care of us. Democrats and Republicans alike. And I do mean taking care of us: About like Tony Soprano would.


The Beach Bum said...

Curmudgeon -

It's called adding pork. And the reason several good bills do not pass in Congress.

Great Blog.

BTW I will be writing a CB Blog today and posting tomorrow as requested.

The Beach Bum

Jean-Luc Picard said...

The dollar picture says it all.