The Consequences of Losing
I admit it, we regular folks lost the battle when that uber bailout of $800 billion was given to Wall St. banks. When Bush, Paulson, Geithner, Bernanke, Frank, Dodd, Reid and Pelosi gave all our money to bailout Wall Street corporations, aided and abetted by then-candidate Obama and McCain. The writing was on the wall and now Washington has ruled out a bailout for California, the 8th largest economy in the world, which has a $24.3 billion budget gap. Check out this excellent 30 minute report on California, called “Fault Lines – California: Failed State.” Hint: Milton Freidman would love the solutions being put at the front of the table…sell off all our parks and other public assets to private companies while any tax increases are out of the question. It sucks to lose, and we are just now starting to pay for it.
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