Poor Losers

Yesterday, the day after the election, I arranged my errand running, so that I could be in my car to  listen to Rush, and the boys and girls on a conservative radio station in our area.  I couldn’t wait to hear what they had to say about this historic election.  The ranting and blame placing was pretty much what you would expect.  The electorate was voting for socialism in the U.S. A., the conservatives did not make their point, and it was a vote against George W. Bush.  I believe the last two were valid reasons, and the one on socialism was not.

Nowhere, was there any statement that these radical right wingers who claim to be so right might have failed to get their point across to the American voters.  No self-blame from the master of the EIB, who hasn’t made sense in twenty years, but has made millions by preaching his message  of hate and division.  We have a new day coming in government in this country, and regardless of political preference, get used to it, because we all have a stake in what happens.

Our economic problems worsen every day, and will continue until some strategy is employed to use the nearly ONE TRILLON bucks that the congress dropped on Wall Street and the same people that created the problems!  That is OUR money, even if it was taken from the Federal Reserve Bank, the FDIC, the Treasury Department with NO plan.  This is a problem that will truly affect us all, and may have already had a negative impact on millions of us!

If you have mutual funds as your savings or a part of your retirement plan, you have lost real money, and it very likely will get worse!  If you are a public employee, your retirement funds have taken a big hit in every investment they own.  Your home and and any other real estate you own have taken a BIG hit.  It goes on and on, but the bottom line is that the only way out is for our U.S. economy to recover, and there is not a plan!

The gifts of billions to the nine largest banks is NOT a plan, it is a gift to the thieves who caused the majority of the problems.  Greed has always been their answer.  This is where President Obama might start to turn things around.  We must hope that he will find the right people to get controls that will work.   I believe he will.    He must.

As a banker, I’ve always tended to oppose government regulation, but this is different.  When we put up a trillion bucks, we must have real regulation that is understood by the regulators, the regulated and by the  public.  It wont be easy, but we have the right man in charge, and he is smart enough to understand the solutions offered.

More about this later!