MrsObvious's Blog

How many of us are watching our life savings wither and blow away? How many of us are getting ready to cash in the penny jar to buy groceries? If you're like me, you're worried about this mess. VERY worried.

HOW did the boys in Washington let it get to this point? And where were we? Why did WE allow this to happen? I know I don't pay as much attention to the goings on in Washington as I should, but I'm paying attention now. I wish I'd have seen or heard more news stories on the warnings that have been issued about this current financial catastrophe that we're in right now. I wish I'd have been more proactive with my representatives and challenging them more on the financial state of the union. For now, all I can do is call my financial rep and pull out of the stock market and hunker down with low paying CD's that will at least stop the bleeding. For now, all I can do is become angry at being fooled again by the high powered CEO's, their complicated and greedy method of creating prime investments out of subprime borrowers. All I can do is hope that Barney Frank and the rest of the Democrats who pushed for 'housing for ALL Americans, no matter how lousy their credit or inability to pay a mortgage' find themselve on the outside looking in. And soon!

I'd LOVE to have someone address the country...perhaps it should be ME and tell the citizens why credit has dried up. id: Supposedly why no one can get a loan. Folks...it's not US who can't get a loan. It's the BANKS. And, the banks won't loan to each other because they're unsure of their solvency. The banks don't trust the other banks. That's how crooked they've all become. And the banks won't loan to big business now because they're unsure of big business' ability to pay in their credit shutdown. McDonald's can't open another 15000 coffee bars due to lack of credit. They can't get the loans. Whoever their bank is can't borrow the money from another bank as the banks are now depositing this 700 billion bailout in their own accounts to protect their own cash assets. They're not loaning it to each other which is what the entire bailout was designed to do...they're tucking it away in their own vaults.

Hey...guys in Washington...I"m sure glad THAT plan worked!! What ya got cooked up next? Buy up all the mortgages on the books for pennies on the dollars and reduce the financial worth even more? And, when you start to (supposedly) earn money on this investment, will you put the funds elsewhere rather than back into the budget for the overwrought and overworked taxpayer? I suppose they could use some new hand carved Italian marble bidets in the Congressional toilets....

WHEN are they going to stop raping the middle class and the taxpayer? WHAT are we doing to have to resort to....? Mobs in the street smashing bank windows? If Wall Street, the White House and Congress don't get their act together, that is going to be what happens. It's OBVIOUS to me.