Home of the Bray :: Brad Walsh

Home of the Bray

“For years now, they’ve told us that we can’t afford—that the government providing healthcare to all people is just unimaginable; it can’t be done. We don’t have the money to rebuild our infrastructure. We don’t have the money to wipe out poverty. We can’t do it. But all of a sudden, yeah, we do have $700 billion for a bailout of Wall Street.” —Senator Bernie Sanders

4 Comments to Home of the Bray

by me!

On September 24, 2008 at 7:18 pm

actually we don’t have the money to bail out wall street… hell, we didn’t even have the money to give out the damn $600 refund to people! what we need to know is that “rome is falling” and it ain’t pretty! either way, with which ever candidate we elect, we’re F-ed!
by Lawrence

On September 25, 2008 at 3:03 am

As someone who is unashamed of his devotion to capitalism and the free market, I find myself agreeing with — of all people! — Bernie Sanders. This bailout is complete bullshit. First of all, they don’t even need $700 billion. A huge portion of the problem stems from changes in accounting rules which, if they went back to what they were before Enron (“The road to hell is paved with good intentions”) or, at least, a modified version of it, the banks wouldn’t need so much money to balance their books.

The second thing is, if you’re a financial institution and you take on risk in order to get a reward, you have to remember the “taking on risk” part. If you fuck up, that’s your problem. It might cause a recession if a few of these institutions fail but, in the end, we all get stronger from it because they’ll learn they can’t screw around ever like that again. Instead, we just told them all, “Oh, it’s okay to take on more risk than you should. The Feds will bail you out.”

This whole thing proves what I’ve always said about Wall Street: Despite what they say, they’re not capitalists there. They never have been and they never will be. A real capitalist would take their licks.
by vbn

On September 25, 2008 at 3:49 am

The link photo shows the summer palace of the king of the two Sicilies. You probably never heard of the country because it was one of the poorest in Europe at the time, and it was conquered by an army of just 1000 ill-equipped men. That did not prevent the king to buid the largest baroque palace in the world(1200 rooms), with gardens stretching for 2 miles, and an artificial cascade 72 meters high sculpted on a hillside.

Now as then the purpose of spending may just be showing off how great you are to a buch of people that don’t actually care.

The saddest thing: the architecture of the palace is not that great.
by anonymousmom

On September 25, 2008 at 5:42 am

yep Lawrence, I totally agree with you. they took the risks, let them fail. i don’t want the feds to own my loans, no way.
and i don’t want to have to pay (because you know we will have to) to bail them out.