So once again the government is stepping in to bail out people who are stupid. Yes I hate to use that word but they are stupid. Why should we pay for a bunch of people who took advantage of those of us who were less responsible? They took advantage of us who were less educated in the world of finance. They took risks that they knew were going to collapse and these people were ready for it.
Yes Coach Kip got stung by it also. Without details we simply got screwed in our mortgage refinance. And I consider myself fairly well educated in these matters. They snuck some things in on us that have made it very expensive. We did not ask, and if they told us, we did not understand what the terms meant.
So where does that leave us? Screw them I say. I am sick of it. I love the big guys, and I would love to be one of the big guys. Warren Buffet is immune to this recession, or crash, or whatever you want to call it. Why? Because he played by the rules. He did not do something that would take advantage of uneducated people. Hell people trusted the big hedge funds, and banks, and investment firms that they would look out for their money. They should not be bailed out, they should pay.
I just got finished listening to T Boone Pickens book on my MP3 player. It was great, and great story of a guy who grew up from nothing to run a very successful business. I, along with most others, had this idea of him as a money hungry oil monger. But that is far from the truth. He is a very humble business man who has helped a great deal of people, and an entire industry, and not the oil industry, or the natural gas industry, but the energy industry.
So those who caused this must pay, not the little taxpayer.
But we, the common working people, are not immune to blame ourselves. We need to be much more diligent with our money. We must be smarter with what we are doing with our earnings. We must be more educated. This is becoming a complicated world, and we need to educate ourselves, we need to care enough to want to learn so that we can prevent this from happening to ourselves again. It seems to me that it is the depression starting all over again. TOOOOOOO MUCH CREDIT, not enough personal fiscal responsibility. The depression will not happen again, we will be OK. But come on people lets get educated.
I humbly get off my soap box and return you to your regularly scheduled program.
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