Wednesday, November 12, 2008

Would You Buy a Used Economy from this Man?

Would you buy a used economy from this man? Did he just kidnap the bailout and the US banking system at the same time? We think we find the humorous image by kelnishi quite compelling at this time. We're trying to wrap our heads around this one.
So, Congress got the $ 700 Bn needed for the bailout - which we thought was mainly going to the banks to prop up our failing financial infrastructure. Isn't this the definition of non-management? Look, if you or us procured a budget for FY 2009, and we didn't spend it on the capital in the plan, we'd lose our job(s) - wouldn't we? You're supposed to stick the financial planning and the budget as promised. In effect, you have formed a contract between you and the person(s), institution(s) providing the funding. That contract is supposed to be inviolable.
So, has Mr. Paulson violated an otherwise inviolable contract between himself and his government? This is not just a mere ethics violation. It is far more deeply troubling than that. Or, should we give him a chance? Maybe the new plan (if there really is one, or if they really ever was a plan) will work out? No, we doubt it to the highest degree. We are waiting to hear from Congress and Mr. Obama and possibly even Mr. Biden on this one. We know we are going to hear from many world leaders on this one. Maybe Mr. Paulson will be brought before the World Court in The Hague.












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