Saturday, February 7, 2009

How Insane is the "Bailout"?

First, the government forces banks to take a "bailout" they don't want or need.

Then the government tells these banks that "Institutions that get assistance will have to participate in loan modifications and meet other standards that we set. Public assistance is a privilege, not a right."

To summarize:

"You need this."

"No, I don't."

"Take it."

"I don't want it."

"Shut up and take it or there will be trouble."

"(Sigh) All right I'll take it. I don't want it but I'll take it."

"Now you took the money, do what we say."

"I didn't want the money."

"That doesn't matter. You took the money- it was a privilege, not a right."

"Actually it wasn't a privilege or a right- you forced it on me."

"Shut up, you crooked bastards."

I'm no economist, but doesn't it look kind of sorta like the government wants to make these banks fail? They've done so well in the past.

At least the government is winning part of the perception war.

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