mardi 9 septembre 2008

Kiss Fanny goodbye

Over at some American market blog somebody called Bill Cara gets all mystical and almighty about the Fanny and Freddy fiasco. Writing a day before the handout was announced he wrote "Fannie & Freddie have quite recently publicly announced that their enterprises have adequate capital to sustain operations until well past the coming change of Administration. Then, why the panic?" Hmmmm. . . . I'm no investment expert but this guy isn't going to get rich any quick soon.

Still he is more illuminating a paragraph later when he intones "What is wrong with America – the greed and gluttony of Wall Street and Washington insiders – will look like smack-mouth football in the next month, and the central characters behind it won’t give a damn. This is wrong – they know it; you know it.
The fact there is nothing you can do about it – to the detriment of your children and their children – is a tragedy. The decisions made in September and October by your elected representatives – societal leeches of the highest order -- will steal the wealth created by a whole generation of Americans."

Halleluyah! Nothing winds up middle America more than money going south. It's that 'in the next month' that interests me. Despite his huff and pouff and bluster, does he know sometihng big is going down? Still, someone in the comments box hits the nail -

"And it is disappointing. Socialist capitalism. Comrades! During good times we collect the profits, during bad times you pay for the losses. All animals are equal, but pigs are more equal than others. "

Surely irony. . .?