Buffalo Boy's Blog

I said it the other day in this post. Economists needed a few days to mull it over, obviously I have more intuition than they do.

They agree with my sentiments that the buy out solves no problems. You essentially have the government jumping in and taking over bad debts. The system has essentially be socialized.

I think we would all agree, we would rather have socialized healthcare than this mess. You have to get to the root of the problem which is oversight of the financial sector. Absolutely no steps have been taken to protect us, the taxpayer.

Bill Maher interviewed Princeton economic professor Paul Krugman who of all the so called economy experts they have been throwing on TV gave the most realistic point of view on the whole thing.

The other thing to consider, it has taken the better part of the last 8 years of George W. Bush's administration to get into this mess, he and his administration is fixing it (oh shit, oh shit, oh shit), its going to take a while and more than just a bailout orchestrated over a few days to fix the underlying problems that the republicans caused.