Mars Attacks
November 14th, 2008 by 
reality
Intelligent life in Washington? Say it’s not so. From the NYT:
Senator Richard C. Shelby of Alabama, the senior Republican on the banking committee, said he would not support legislation to aid the auto companies and seemed prepared to let one or all of them collapse.
“The financial straits that the Big Three find themselves in is not the product of our current economic downturn, but instead is the legacy of the uncompetitive structure of its manufacturing and labor force,” Mr. Shelby said in a statement. “The financial situation facing the Big Three is not a national problem but their problem.”
Actually, their problem and the UAW’s problem. Too many years of believing that we, the consumers, were their cash cow. The bigger problem of course is the government employees who believe the same thing.
Posted in Employment, Government, Rogues and Rascals, The Economy | 
November 14th, 2008 at 9:44 am
Unfortunately, Sen Shelby and Sen Paul are very much outnumbered. Sen Shelby was against the TARP and we saw how that turned out.
My only consolation is that my short trades are profitable.
It’s hard to imagine 2 years from now what life will be like when the US is in so much debt and social security, medicare and the Obama programs present their invoices to the US taxpayer. I guess I’ll still be shorting.