Monday, December 15, 2008

Another Bailout

The banks were not enough. Add the automobile manufacturer's who presumably will get something. Nope. That still is not enough. Now, it appears that the American (bailout) government is going to help those who were duped by Bernard Madoff. The people who lost untold billions (estimated at around $50 billion) are going to have their money secured by the taxpayers. Isn't that nice?

What is irritating is that the Feds are the ones responsible for this mess. Unlike the other failures where they could claim plausible deniability, this one lays right at the door of the SEC. Where the hell were they when all this was going down? Asleep at the wheel like usual.

So, once again the hardworking taxpayer is stuck bailing out a mess created by the irresponsible government morons. This has got to stop. Maybe now is the time where we start to hold these people legally responsible for their actions. It seemed this was an acceptable idea when it pertained to the CEOS of public corporations. Remember, a CEO now has to attest that the annual filings are correct or he/she can be held personally liable. At stake is his/her freedom.

It is time we do that with the inept and corrupt government personnel. If you screw up in your oversight in a matter like this, you go to jail with the offender. How could the SEC turn a blind eye to this matter? Someone needs to pay in addition to the corrupt Mr. Madoff.

How much more of this bull crap are we going to take? America better wake up before it is too late. If this trend continues, we are going to experience similar situations to those in other countries where the powerful and corrupt run amok (think of Russia for a moment). And by the way, don't think for a second that Obama is going to do anything about this situation. He is right there with them in terms of corruption. One who excels in Chicago politics does not do so cleanly. Take that to the bank.

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