this financial crisis shit is just unbelievable.
and it is going to take another beer before I attempt to think on it.

okay. I’m working through this on my own terms. I don’t understand economics. or finances. I don’t understand money, in general. all I understand, is that I don’t have a lot of it.
except that this all basically happening because the American government has been deregulating financial markets for years, and Wall Street has subsequentially invented markets that fall under no one’s jurisdiction: not the Securities Exchange Commission’s, not the insurance regulators’. and they made tons of money on this shit until the bubble burst. but because there’s been minimal regulation of the way these companies do business, they’ve been allowed to take control of massive swaths of their markets, and then some. these motherfuckers are monolithic; they’ve got their hands in everyone’s business. so. if AIG takes a shit and dies — which is what was going to happen before the Federal Reserve announced it would float the company $85 billion, take over 80 percent of its assets and remove its board — it would trigger a chain reaction that could take down the entire economy.
am I getting this right? I’m trying. this is so hard to wrap my mind around, that it hurts.

you know, I want someone to focus my anger on. I said earlier at work tonight, that after AIG begged the Fed to give it a bridge loan so it wouldn’t go under, if I were Treasury Sec. Paulson, I would have said, “fine. but you have to walk the length of Manhattan in a clown suit while passersby pelt you with rocks and garbage, you miserable bastards.” I wish it could be so base.
but it’s not that simple. there is no individual who’s responsible for this, it’s the culture. this is the free market without oversight. this is what happens when you “unfetter” business and allow it to do whatever the fuck it wants. yeah, you know, if we just let this shit go, it will work itself out, and the economy will eventually rise again, but not after dumping all over millions upon millions of people and their financial security.

eh. I don’t know what the hell I’m talking about. except that the free market is John McCain’s dumb asshole answer to the millions of Americans without health insurance. that fuckwit. I’m disgusted. $85 billion because the American has no choice but to bail out a company — too large and important to fail — that deserves to be burned to the ground.


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