Banks, Fees, Obama

Okay, not sure how valid all my information is, but it's really outrageous when you get bailed out with taxpayers money to really squander it. If a normal person ran their business like some of the big banks, automakers, insurance companies, it would pretty devestating.

What I don't get is after the bailout, some of the companies decide to give pay raises to its employees. They are taking tax payer monies to give these pay raises. Yes, I believe in giving raises, but only if the company has done well and performed well. In the case of being bailed out, it's like someone giving you money to help your company and you go to Disneyland on that money rather than making sound choices of perhaps restructuring, making sure whatever caused the problems to not happen again.

I'm not saying have all these extraneous committees and spending all this money to do that, but someone's gotta be responsible, eh? The Bible has a thing that says to whom much is given, much is required. I mean, for crying out loud, they made HUGE blunders and showed no real remorse, and yet the government decided to bail them out?

Ignorance my butt.

With the case of my marriage, I was ignorant to a lot of things, but I am paying the price for that ignorance and taking responsibilities to make sure this never happens again -- though it's just me now, I do have an accountability factor. This isn't so easily remedied in my personal situation and though my ex walked away from all responsibilities in a situation he created, I know in the end, it will come back to bite him in the butt.

I'm learning a great deal and though my accounts are small, through this hardship, I'm learning how to be creative, learn, adjust and continue to grow. I live on a budget and have learned how to live with my two kids on very little until I can get my trading business profitable consistently.

So, Obama is appalled probably due to public outcry as to the wastelessness of the bailouts. He wants to penalize the big banks to make them pay back what was given to them, but at the same time not allow them to pass that onto the consumer. Good luck attempting to do that. He's saying that over a 10-12 yr period, that this will pay a good portion back of what they were bailed out on.

What about interest? Oh yeah.

Banks didn't get to be big banks without some unscrupulous dealings or without being very smart about things. I'm sure they will find some way to skirt the government because that is where the big money lies -- in big banks. And, I'm sure there are plenty of ties to government officials that will make this seem like a gesture to appease the public.

I, for one, am a skeptic. Obama is not the savior. Though he says he's for the common folk, he isn't because look at how he runs his life with his family. What is good enough for the American public is not good enough for his family. Just another fat cat in another suit, a rather skinny suit.

Oh, and the auto dealers not having to pay back what they were bailed out in? Hmmmm. Can I have some money? No one is bailing me out or the many Americans for whatever reasons have made not good choices. Some purposefully. Some out of sheer ignorance.

I'm reminded with my children when I give them a little leeway in some areas where they do not have good self-control or discipline, they really just run amok. Americans are no different. Come on. If you give loans out where you need no proof of income or allow 150% of whatever of the equity in your home, do you think people will take that? Of course. It's like letting loose kids in a candy store to have at it. Yeah, right. Like they aren't going to grab all that appeals to them until the point it makes them sick.

Oh, give it to Mikey. He'll eat anything.

Think another bubble is about to burst? Let's get trading squared away - technicals, logistics and trade well, so when the next downfall that happens, we can really profit from it. We really shouldn't be so concerned about the direction as much as we are going with whatever the market gives us whenever.

Enough of the soapbox. I'm done, for now.
2 Responses
  1. da2rth Says:

    thanks for sharing. happy new year...and new decade to you. love reading your blog. best wishes to you and your family.

  2. Doris V Says:

    Hi Allan,

    Thank you so much. I bless your 2010 and this whole decade. May it be so prosperous, healthy, and incredible!!!

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