A Bailout by Any Other Name Still Stinks

Bail out the duped and you reward misplaced trust

Bail out the expert and you reward incompetence

By bailing out Wall Street and not the individual homeowners we will cause long term damage by both eroding trust and encouraging incompetence.

Wall Street, with Jim Cramer as its spokesmen, whine that these tactics are necessary to avoid a greater calamity. As I mentioned previously, these same tactics in 1998 are what caused today’s greater calamity.

Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat. – Sun Tzu


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s