Atlantis Alumni

Wednesday, January 28, 2009

Enron 2.0

Merrill, Bear Stearns, Citigroup and the list goes on. Did you know Siemens, the large German tech giant was paying out millions in bribes? The list of slime can go on and on. I'm sure we'll find out much more when the TARP bailout dollars stop.

A pearl of wisdom: "Once you cut off the head of the snake, the rest of the snake dies." I can't tell where this particular snake starts or stops however I can tell you the rattling part was definitely Enron.

We all know what happened to Enron. And with all of the financial firms dropping like flies I think we are really seeing Enron 2.0. Much of the legislation ala Phil Gramm started (ground zero if you will) at Enron. It starts with massive deregulation and was doubly enabled by a government with a blind eye.

The question is this: how much of Enron 2.0 did the blind eye fail to see?

I have one suggestion: stop bailing out companies. It isn't helping. And we need to see the whole snake. We can't do that if buttloads of cash keep getting in the way and smearing our perception of reality. Reality is that many Americans are paying for Citigroup to continue to fly in private jets and other companies that don't make anything and cost ALOT are still at the government trough.

Obama, don't bail out any more companies. It isn't working and it isn't what the government should be doing. This isn't protecting constituents and it is creating more problems.

PS Save us some cash and haul ass out of Iraq. By the way, how's it going in Afghanistan? How long do you think it will be before you figure out the same thing Moscow did; it's a war you can't win for people you probably won't like. Stop war, stop bailouts!


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