Sick, $700B Sick

$700B. I'm disgusted. I actually wrote all my congressional reps (and I can't say I've ever done that before). Its an irrational, knee jerk, grab a cement truck because we "think" there is a crack in the levy approach. This is no different than the authority to bomb the crap out of Iraq (i.e. no plan). How much have we spent on that? Futures! Futures I tell you.

Why can't we be like Warren Buffet, hell he invests rather than "bails out" freaking companies. Why can't the american tax payer be an investor for once? So we need to act, yeah... I get it. The stock market went down 700 pts upon the failure to approve by the house. Then the market rose 400 the next day. Why did the market decline another 140 pts after the house signed? Because the bill doesn't freakin matter. Look - Paulson came from Wall Street. His buddies are hurting. Got it?

What matters in our current economic constraints is that we make capital available to companies, agencies and individuals that need it (as a loan not as a corporate hand out). Why can't we take equity in those companies and share in the rise of value rather than "bail out" companies that benefited from the "free market". Funny how free market proponents like free markets until it needs to "pluck" them from the gene pool. We need those gordon geckos to finally leave our collective gene pool. My solution now? With the $'s allocation...I say we fire Paulson and hire Economic Nobel Laureate Joseph Stiglitz to run the "fund". His plan is really similar to what european countries have done in tough credit crunches and what any investor would expect. So we get Joe to decide where the $700B goes (oh wait I think its $1T after the senate got its way). Read it HERE