Friday, March 20, 2009

Atlas Shrugged moment of the day: Associated Steel

Can we bail out of the bailouts?
What if we let companies that are 'too big to fail' do just that?

Someone is to fat and stupid to move themselves so we have to feed them...


As for the Banks in general:

I had an account with Barnett Bank in 1992.

They were bought by NationsBank in 1996.

They were bought by Bank of America in 1998.

Now they need a few billion in tax money...

Maybe we should let them fail and have 3 different banks again so when one of the three fails they won't be "too big to fail". Oh wait, then we'd have to let them fail first. Which is somehow a really bad idea?


One More Thing...

So here's the plan:
1-Pay Taxes for services the government provides you.
2-Government passes laws allowing and encouraging Banks to do shady shit.
3-Government overspends on poorly planned wars and other related items.
4-Banks lend money to people and institutions that they otherwise wouldn't do because they are risky.
5-Econmey slows down because people no longer have money to spend since they spent themselves into debt at the banks expense. Now they have to pay those bills.
6-Banks can't get people to spend money they don't have or pay them back.
7-Banks start to fail.
8-Government "helps" banks that can't manage themselves.
9-Banks give out bonuses instead of pink slips.
10-People are surprised, government is shocked!
11-Government wants to Tax bonuses 90% rather then let that money at least be in the economy somewhere.
12-10% of the money that made it out of the Government is back in the economy and the rest is fed to the government again. And the government will spend some of it to re-spend it.

Result=Less money in our economy.

You fed the dog steak so the dog will protect your house. He gave it to the robbers. You caught the robbers eating your steak. The dog is outraged and demands 90% of the steak back from the robbers. The result is you will still need to feed the dog another steak because he didn't get his full meal... And all that extra work sure made him hungry!

Haven't read Atlas Shrugged? Buy it here.