PUBLIC BE DAMNED

Washington continues to abuse the American public. The funny part is we take it. Over and over again.

The latest gambit is an affront to the taxpaying public. I refer to that part of the budget bill passed by the House last night that permits bank subsidiary derivative action to be covered by taxpayer dollars in the event the bank takes a loss. A similar scenario to what occurred because of the 2008 mortgage debacle.

Dodd-Frank passed in 2010 prohibited the taxpayer guarantee. Last night’s vote does away with that portion of Dodd-Frank. It is a step back to 2008.

Permit me to portray the situation in its simplest form. Wall Street reaps big profits from derivative trading. Wall Street gets paid big bonuses for its derivative trading successes. If Wall Street makes mega dollars when it wins, I believe Wall Street should be prepared to handle any losses sustained in a downside.

Tell me any other businessman that has his action covered with taxpayer monies. Businessmen stand the risk. When things are good, they  and their businesses profit. Both live well. When business is poor, they have to stand the loss alone. No government agency steps in and bails them out.

I was impressed with Senator Warren yesterday. She sounds like a breath of fresh air. I hope she stays that way and is not contaminated by the system.

My day yesterday started with a haircut by Lori. She was number one on my hit parade. She exclaimed as I walked in…..You lost weight! At 20 pounds, it is beginning to show. Love it!

Visited Lisa afterwards. Jake greeted me. He was outside. I am amazed how we have become friends. Good friends.

By the way, Jake is healthy once more. Whatever was bothering him seems to have gone away. He looks better and acts better.

Then to Smathers Beach for a walk. The cooler weather makes outdoor walking easier.

Key West is going to stay cool for a few more days. The high today will be 67. Tonight, the temperature will drop to 62.

Christmas is two weeks away. An inexpensive gift is my book. The World Upside Down. The cover Key West. Me sitting outside under the tiki hut typing with the water and mangroves behind me. A big green KEY WEST LOU across the top.

The book’s contents interesting. I cover everything from the Florida keys woman who was shaving her privates while driving to world events to feel good stories.

The World Upside Down is available at amazon.com and barnesandnoble.com.

Enjoy your day!

 

 

4 comments on “PUBLIC BE DAMNED

    • Oh My Gosh. Part of her speech actually made some sense ! Wow ! It just goes to show that a blind squirrel finds an acorn every once in awhile.

      She sure is changing her tune, so, she must be moving toward the center a bit to set herself up for election mode.

  1. “Permit me to portray the situation in its simplest form. Wall Street reaps big profits from derivative trading. Wall Street gets paid big bonuses for its derivative trading successes. If Wall Street makes mega dollars when it wins, I believe Wall Street should be prepared to handle any losses sustained in a downside.”

    It is called an oligarchy and that is where we now live. The cherished “Free Market” (if there ever was one) is now rigged and gone. Thus both parties sound like shrills hawking phrases and ideas they don’t believe in, they just need their checks. FOX News and MSNBC plus CNN on the side does the rest of the brainwashing.

    Our taxes are Their play money. They win, we always lose. Goodbye Middle Class. And yet, we always…always vote these same corrupt fools into office every election so we really deserve exactly what we get.

    “I was impressed with Senator Warren yesterday. She sounds like a breath of fresh air.”

    She is honest. She won’t last long in DC. They will chew her up and spit her out.

  2. She is honest. She won’t last long in DC. They will chew her up and spit her out.
    end quote

    She has been in politics for awhile and has succumbed. Listen to what she said on the same subject one year ago. She has flipped 180º and like everyone else she doesn’t think the public will notice. But, she is right as the majority won’t.

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