Hank (Hell) Broke Loose

As much as I am already dissatisfied with the Fed and Treasury on the current circumstances, they moved a step toward global chaos with Bush amongst them. Well, technically only USA but since USA is consuming, they basically are messing around with the life of billions of people.

First Bear Stearns. Well, as some said, its necessary, and JPM got a good deal. Next, Fannie and Freddie. Then AIG. Well, I can understand the AIG rescue, but now, they have created a "bailout" center using the money I, and many other taxpayers, give to USA from my paycheck. Didn't Henry Paulson earn enough at Goldman Sachs already? Why does he need my money, or anyone else's to be truthful, to clean up his mess? It may sound like I'm only interested in the "I" scenario, but I always believe in this, if it can happen to you, it can happen to me, so I will try to fight injustice even if I'm not the victim, for social and personal reasons.

Well, for one, I did not benefit from him, so he has no value in terms of my sentiment. Next, he recklessly piled in dollars to the big hole the financials created with their fancy instruments like CDS and many more eye candy. Now, the taxpayers pay. "Profits are personalized, Losses are Socialized". The problem, I think his moves not socialized in benefit a single bit. Talk about robbery. I seriously think the financial industry is ladden with crooks, not "cream of the crops".

So, no more shorting, which does not affect me directly. But I can't hedge my losses. So right now, Paulson create a vehicle with everyone's money to buy useless "paper" and tries to find another buyer for that. Great. I wonder how he can sell this to someone else?

So the market is up higher than the week started. I lost money thinking it will tank further, not make any money for the rally, and now I have to lose more money in the form of my pensions and taxes for this?

The capital losses is fine, but the second set of uninitiated losses is not. And the best part, they are not helping the hands that feed them. Foreign banks will probably not be included in the plan to dump dirty paper. Wow, great customer service. No wonder the country is falling apart. Maybe not totally, but its definitely a mess created by the elite few who is enjoying their vacations which they always say they deserved (for creating this mess).

Logic one of any business, no customer no money. Paulson is truly a genius in throwing others under the bus, even the one who feeds him. He has one thing that I don't think I can ever learn. Shove the knife on everyone else to save one's own life.

I'm not an Economics expert, but simple logic, yes. Complicated logic, alright. Useless complexity, no go. By the way, I think I mentioned this to everyone before. Unless necessary, I seldom address a person by his last name, since that will define lineage. When I do, my level of respect for a person is marginal at best. If I can't find a reason not to define one other than by his full name, that means that tiny bar of respect and tolerance is probably running, on empty.

Another thing...this article is a decent read about Singapore. Not politically correct in Singapore terms (note some of the words used...although I feel neutral when reading anything anyway), but a few praises for the system which I grew up in and one which kept me sane. I don't think I will be that sane if I grew up in USA, but maybe because I didn't grow up here.