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Alls I can say is that slippery slope arguments are, by their nature, fear-based. And the only thing we have to fear is fear itself.
Friday, October 03, 2008
Oh Yeah, The Bailout
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2 comments:
Yeah, more of that scared stuff. I can see the logic of Mr. G's conflation: A bailout is an investment you HAVE to make, rather than one you WANT to make.
But really, the whole point was missed. Again. There's a certain clear-headedness about blaming the stock-market slide on ourselves, taking out funky mortgages and such. But that was not the problem-- that was just the trigger.
Did you see Steve Croft's piece on "60 Minutes" this Sunday? By far the clearest, beginner-level explanation for the mess I've seen. Scary, too. CBOs, those unregulated credit default insurance swaps, those are the friggin' problem-- a problem so amazingly big they can't even assign a dollar value to it yet (50 trillion?)
I didn't watch 60 Minutes this week... after the previous seven days I felt like spending Sunday curled up in a fetal position enjoying FUTURAMA: BENDER'S BIG SCORE. And even then, the Al Gore jokes made me shiver.
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