The last two weeks have been tsunami-like for financial markets across the globe. The failure of the US bailout plan to pass in Congress on Monday made things seem worse, as markets reacted negatively to the decision of the house of representatives.
In an unusual move they actually listened to the voices of the people and voted against this rescue of the rich and shameless,which is all this little dab of money will do.It will allow a window of opportunity for the players caught flat-footed holding these worthless 'complex financial instruments' to move away from them, to the extent they will be allowed to, at tax payer expense.The true scope of this financial meltdown, which is global, is far beyond the promise of the U.S.GOVERNMENT to pay, based on it's ability to tax the American people. Not to imply that 700Bil. dollars is a small amount of money, but when you consider the tens of trillions of literally bogus assets scattered across the planet, only then can you grasp the financial Armageddon we are all facing.
We are only witnessing the buzzards and vultures of high finance jocking over whats left of the hides and hooves,to protect their hatch lings financial future.Never mind how many song birds are starved out.Most of the people in this country still do not know what has happened to them and they will live out their miserable lives in ignorance of the magnitude of the crime or the identity of the perpetrators!!
I think today I will refrain from my customary response of describing how some of the ones responsible should be hanged or shot or both and just head on out side to begin planting my fall garden. Maybe this damn ulcer will cool down. GLENN NUNLEY. NORTH FLORIDA.
