MichaelDLilly.com

I have told a few people, so why not put it on the ol’bloggy blog as well.  The issue of this gov’t bailout just might be a deal breaker for me even voting for the presidential election this year.

I am not 100% familiar with the verbage, but to the last of my knowledge the package would have given full immunity to Henry Paulson over the use of that 700 Billion.  Let me go ahead and toss this little thing out there, 700 Billion writes out as: $700,000,000,000.  Yeah, lets just breath that one in for a second.

Recently I had my status update as “if you had 700 Billion, would you give it to a bunch of broken banks?  Yeah me too.”  Obviously I’m being sarcastic here… Estimates of the US population of 20 + years of age puts our numbers @ 217,611,754…  Bare with me here because wikipedia lumped 0-19 so I can’t snag the 18 + total, but 700,000,000,000 / 217,611,754 (US population over 20, est) = $3,216 per person.

That is a heck of a lot of money to not have the head honcho be accountable for.

I am trying to come up with a number of home mortgages in the US but I can’t grab those stats quickly.  But realistically what is putting the US in this pinch?  Overspending, buying what you can’t afford, including homes.  Why not address the citizens that have junk loans instead of addressing the corrupt banks that made the loans.  Those loans never should have been made, and we can thank Bill Clinton, Allen Greenspan, and a bunch of us biting off more than we can chew for this mess.  Why then would we give 700 Billion to the people who broke regulations to give loans to people who could not afford them?

How this package is handled could put the US in a situation to the magnitude of the Great Depression.  And I fear that it could be a GREATER Depression…  The dollar is weak, no one wants it, this will only make it weaker.  You are bailing out the people who broke the rules in the first place, let those banks be bought by other banks with the capital and deep pockets to weather the storm (ie Western Mutual & Bank of America deal).  Think with me, what is ONE thing the Government does right with money?  I can come up with a list of underfunded institutions, and a list of crappy pork barrel spending…  Sorry, I don’t trust someone with complete immunity to handle 700 Billion.  AND for your info, he requested that much…  Another little tidbit, Mr Paulson used to be a big wig @ Goldman Sachs one of the big boys about to get kicked to pieces by this mess.

More on this later….  But as I understand the cards right now… Deal or no deal?  I say no.

Both candidates say there needs to be more regulation and oversight…  Yeah, what good did the regulation and oversight that exists do?  NONE!  We have regulation and oversight over this kind of bull crap, and THEY BLEW IT!  The government is not an efficient entity for this type of thing, sorry its the stinking truth.