The betrayal of the regulators is appalling. Paulson will have zero legacy when this is said and done. Bailing out every Tom, Dick and Harry with taxpayer money (OUR money by the way) is like putting a band-aid on a cancer.
There is no rationale for this auto industry bailout. Maybe 10 trillion of wealth has been lost on paper in the US financial markets. We don't need any more GM cars. If they built a competitive car with the Japs they wouldn't be in this mess in the first place. Trillions more are at risk with this move and the American taxpayer is losing confidence in these morons. It was all about election politics to begin with.
Parisian Family Office CEO. Founder of CHIPPEWA PARTNERS, Native American Advisors, Inc., Registered Investment Advisor. White Earth Chippewa, educated conservative, raised on Indian reservations across Great Plains. Began Wall Street career in 1982. Always been, will always be, an optimist. Pureblood, clot-shot free. In a world on a dopamine binge, this is his take on life. Written at the Ghost Ranch in MT, Pamelot, their TN farm or winter home in San Jose del Cabo, Mexico.
Wednesday, November 12, 2008
Paulson, the bailout and OUR money.........
Subscribe to: Post Comments (Atom)
Post a Comment