Let me just preface this paragraph with one statement:
I am not a financial wizard, but I can balance a checkbook which appears to be a lost art.
What do I think about the government "bail out" plan? For starters, to call it anything else would be a delusion. Regardless of all of the hacks on Wall Street who put the rest of the country on our current financial precipice, a situation where they will be the only winners and the rest of us, will lose again. They came up with a plan that will take the heat off of their greedy asses and make Everyman scrape the bottom of the barrel to foot the bill.
I hate it. I hate it. I hate it.
But in a world where banks are collapsing and the value of the once almighty dollar is drastically shrinking, something has got to be done. The government bail out is not ideal but SOMETHING has got to be done to prop up our crippled economy.
It hit home for me today as I was sitting in a meeting. Our company is doing well on the NSYE during this crisis. Our stock has been going up and up while everything else has been plummeting. The REIT market in general seems to be faring well. HOWEVER, if the banks don't start lending money soon and we can't tap into our line of credit, despite how well we are doing, the layoffs will be inevitable.
yeah, it is uncomfortably close to home. So though I am not crazy about the thought of the government (or anyone else for that matter) coming in and saving the rich asshats and when I mean save, I mean preventing them from losing their Hampton summer homes, something has to be done or the rest of us peons will know what it is to be truly poor, hungry and destitute...and there is nothing more depressing to think that my 2-bit hooker ass can only bring in 1-bit.
7 months ago