Wednesday, October 15, 2008
If It’s Good Enough for the Banks...
I want to make it crystal clear to my friends that don’t follow the news much just how historic this week has been. I find it really bizarre that all of my favorite topics are being rolled up into one. Air traffic control, government and politics.
The U.S. Government -- under a Republican Administration -- has just made a $250 billion dollar bet on Socialism. And Wall Street lapped it up, recording it’s biggest one day gain ever. Don’t take my word for it. I’m just a an ex-government employee that doesn’t know anything about business and “Free Markets”. But I think you can believe the BBC.
Washington diary: Brown the hero?
By Matt Frei
BBC News, Washington
Take a pause and consider what has happened: a conservative administration, wedded to the free market, allergic to nationalisation and hyper-allergic to all forms of socialism, run by a Texan oil man and a former Wall Street investment banker has adopted an economic emergency package that would make Michael Foot, the last leader of unreconstructed (old) Labour proud.
The Federal government now owns a stake in some of America's leading banks.
Let me pause right here and go a little “John Carr” on you. If you took my advice and started watching BBC America for some decent news you recognize Matt Frei as the anchor of BBC World News America . The above is like Brian Williams of NBC calling George W. Bush a Socialist.
But wait, it gets even better. The “former Wall Street investment banker “ referred to is Hank Paulson, the Treasury Secretary. Again, from Mr. Frei and The BBC.
”Hank Paulson, once the "uber-Master of the Universe", has been dragged to the altar of direct intervention in the banks and followed Gordon Brown's example. “
He previously served as the Chairman and Chief Executive Officer of Goldman Sachs.
By the way, does the symbolism sound familiar too ?
“As we drink from this bitter cup that Saint Ronald proffered us from the altar of the Free Market, perhaps we will share a collective epiphany;... “ It ought to. I wrote it only only three days ago.
Please -- Please ! -- read the entire article from Matt Frei.
And please note that the Treasury Secretary’s former employer will get $10 billion dollars from the U.S. Government.
In case you don’t get the ATC angle in all this, I have two words for you -- inherently governmental. I wrote that blog on June 30th of this year. Please -- go back and read that one too, including this quote from The National Treasury Employees Union’s president.
”Under this administration,” President Kelley said, “the army of federal contractors has grown considerably, as agencies find themselves under pressure to put a variety of jobs—many of which previously have been considered inherently governmental—up for bid to the private sector.”
Are you getting The Flick yet ? If Socialism is good enough for the banks -- including Goldman Sachs -- then it is good enough for the FAA. Put the FAA -- all of it -- back in the government where it belongs. Training, maintenance, computer programming, VFR Towers -- and yes -- even Flight Service Stations. Let’s clean this mess up. We can start on November 4th. All you have to do is vote.
October 15, 2008
Edited note: My apologies to Brian Williams of NBC news -- not ABC News.