Saturday, March 27, 2010

Clearly a Bad Decision

I remember clearly the complaints over the bailouts of the banking industry. I remember clearly how angry so many people on the Right were that Bush signed the initial stimulus and that Obama signed the second stimulus. I recall specifically friends and family members complaining about doling out money to Citibank in the wake of everything they did. I can't say I disagreed with the ire, however, I felt that since there seemed to be a general consensus among the electoral leadership and financial experts that it needed to be done, I yielded and hoped for the best.

Unfortunately, it seems my decision to trust the government was not the best choice. As it turns out, if the Government sells its stock acquired in exchange for the bailout of $25BB, we will only receive $33BB in return. Clearly an 8 Billion Dollar profit is nowhere near enough for making sure our financial structure didn't completely collapse.

1 comment:

Jamie said...

I'm totally upset by what the government has done with the bailouts and also the healthcare bill and am starting to regret my vote for the Dems. I don't think I can ever vote Rep though, so I am strongly leaning towards voting third-party.