Not one god-damned red cent for Wall Street

I'm just as deep in the stock market as anyone else is these days. After all, government policy has been urging employers to gut pension plans (remember guaranteed retirement benefits?) in favour of investment plans (with only a set contribution, but no guaranteed returns). So most of my retirement savings is tied up in the stock market, which is a risky gamble. I could lose it, but I wanted the big payoffs that stocks might provide, so I took a chance.

That's how the free market is supposed to work, right? Isn't that what Nobel-prize winner Milton Friedman said? Isn't that the ideology which has been ascendant in the US for the past twenty-eight years? If the banking industry isn't working miracles with all of those fantastic new financial instruments they've cooked up, and are in fact just building an elaborate confection that is collapsing on itself, why should we prop it up? It sounds like a huge proportion of the finance industry is doing things of no real economic value. They need a huge handout (plenty of which they'll pass back as "campaign contributions"), and if we give it they'll demand another huge handout in a year after they waste this one.

So fine, let my portfolio lose seventy-five percent of its value. Even ninety-five percent – we'll work it out. I'd rather spend a trillion dollars helping people in need than wasting it on more empty suits. Recessions are necessary: endlessly trying to apply the juice to extend a boom just makes the crash that much harder, and that's what we're seeing now. So let it go, and then we'll work out a more relevant (and possibly even less corrupt) financial system.

Bush said today the sky is falling so we've got to unlock the US Treasury with no questions asked and no accountability. He's the same guy that wanted to gut Social Security and put it all in the stock market! (Wow, too bad we didn't get to experience all of that great growth, huh?) First, we had to surrender all of our civil liberties because the terrorists were going to kill us all with box cutters. Second, we had to invade another country because they were going to nuke our balls. Now we're supposed to give an enormous birthday present to Wall Street because they blew our money on bear whores and cocaine. The man has no credibility. Fool me thrice: go fuck yourself.

Giving a huge payoff to this gang of crooks won't do a damned bit of good; it just encourages them to do it again. Write your senators and representative and tell them no. Maybe some regulation is in order. Maybe the banks need to be nationalized. Maybe mortgages need to be refinanced en masse. Maybe some depositors are going to lose their money (me included). So be it: when there is hell to pay, I'll pay it, but I won't pay one god-damned red cent in protection money.