I’m not smart enough about economic detail to comment much beyond finding it amusing that our Masters of the Universe have found a new love for socialism, but for me, after 8 years of the most abject lack of accountability in the history of this country, if any of the morons who got us into this mess get multimillion dollar parachutes, I’m going to blow a gasket.
I want these people selling their mansions and giving the proceeds to the government, I want these people worrying about feeding their families and fueling their cars, and I want whatever health care they have stripped. Beats prison, right?
I’m a compassionate man, after all.
John Cole, as usual, says it better.
Update: This would be good, too.
Update 2: Quiddity at the ever-concise Uggabugga adds a couple bullet points to John’s post I agree with wholeheartedly. And you don’t want to be around me if you decide to challenge me on these points.
September 19, 2008 at 12:34 pm
The unfortunate reality is that they will likely not look into the specific accountability of parties responsible(ie: corporate policies as laid out by executives and board, the focus by wall street on short term profits, possible conflicts of interest of credit rating agencies) and consider this an systemic problem that will be dealt with increased regulation that will probably only act to hinder risky investments until the street figures out away around the regulations..
September 19, 2008 at 1:34 pm
I know. Nobody is ever held accountable anymore, and the “beauty” of all bureaucracies is what I like to call the diffusion or responsibility.
Still, it makes me furious.