Complete Insanity
/We bail out AIG, Fannie, Freddie and the banks to save our system from collapse...they are just too big to fail. Now we have to bail out GM, Ford and Chrysler ( I mean Cerebus, the super secretive private equity firm that owns Chrysler) for the same reason. Trust me, it won't end there....and it won't stop with us bailing out just US co's.
Folks, this is called "throwing good money after bad" and goes against one of the most important rules of successful investing. You just DON'T DO IT!
And...our hard earned money is paying for all of this...tax revenues just being flushed down the drain.
Where's the outrage?? Remember the famous line from the movie "Network"? I'm mad as hell and I'm not going to take it any longer!!
This is the worst looking stock market and economy I have ever seen. Now, we are making things much, much, worse with the bailouts and trillions of dollars of funny money being printed. And I haven't even mentioned the $50 trillion+ in debt/entitlements owed.
Our kids and grandkids will stand over our graves and curse our decisions.
Complete Insanity...where does it end?
It ends with the excesses being removed. AIG will get worse...GM and Ford will get worse...the banking system will get worse....housing will get worse. If the powers-that-be don't stop throwing good money after bad they will turn a bad recession... into another depression.
Kip
