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Friday, September 19, 2008

I'm very confused.

Eden, Utah - where I'm NOT living thanks to government un-regulation of financial institutions.

I had looked forward for three years to retiring last June. We listed our condo in Utah for sale two years ago this November. We had hoped to start construction on our retirement home last April. We had dreamed of moving into that home next month.

We're not moving anywhere, maybe ever.

I'm still working, probably until I'm 75.

I'm working so that we can continue to squeeze out payments on the condo that won't sell and property taxes on the property we can't build on.

Here's why I'm confused. Conservatives say big government is bad; regulation - especially of financial institutions is bad. It was OK with them for families to be sold homes they couldn't afford so that CEOs could reap bonuses in the tens of millions of dollars.

And then, when the inevitable doo-doo hit the fan and those unaffordable mortgages collapsed and then, also inevitably, the financial institutions that loaned that money and gave those obscene bonuses in the first place collapsed,


So now I, who am working into my retirement to pay my bills, will also be paying more taxes (wait a minute, don't Republicans promise tax CUTS?) to bail out the same financial institutions that clamored for no government regulations.

We can socialize our financial system, but not medical care?

1 comment:

Anonymous said...


Recently an insurance company nearly wind up....

A bank is nearly bankrupt......filing chapter 11 protection.

How it affect you? Did you buy insurance? Did you buy mini note or bonds?

Who fault?

They bailout trouble finance company, but they will not bail out your credit card bills……And the bill out of company is still not enough yet…….Should they have use the bail out $$ to pump into all different industries……You got no choice, and no point pointing finger but you can prevent similar things from happen again……

The top management of the Public listed company ( belong to "public" ) salary should be tied a portion of it to the shares price ( IPO or ave 5 years ).... so when the shares price drop, it don't just penalise the investors, but those who don't take care of the company.....If this rule is pass on, without any need of further regulation, all industries ( as long as it is public listed ) will be self regulated......because the top management will be concern about their own pay check…… And they are still spend big money on hotel stay and luxury function……..

Meanwhile if company was being acquired, there will be a great movement in terms of staff……eventually staff suffer also.

Are you a partisan?

Sign a petition to your favourite president candidate, congress member, House of representative again and ask for their views to not just comment on this, and what regulations they are going to commit and implementation the regulation, I believe should vote for the one who come suggest good implementation and let’s see who back up, which don’t implement after just mentioning in the election campaign.....If you agree on my point, please share with many people as possible.... Finance and Media are the two only industries can shaken politics ( Maybe Hackers can ), please help to highlight also...


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