Fool Us Once...

As said in an Associated Press article, it turns out the very people who got into this economic mess are the ones that Washington is hoping to help get out of it.

The AP's review reveals one of the ironies of the bank bailout: The same executives who were at the controls as the banking system nearly collapsed are the ones the government is counting on to help save it.

Let me get this straight...the very guys who caused it, are being put back in charge to fix it. I can't even fathom what else to say about this. So I'll have the source say it for me while I drool on myself and my eyes roll in the back of my head.

Wells Fargo & Co., for example, once was among the top lenders of subprime mortgages, or loans to buyers with low credit scores. The company received $25 billion in bailout money and plans layoffs in the coming months. But longtime CEO Richard Kovacevich remains the company's chairman, and the board recently waived its mandatory retirement age for him. John Stumpf, the president since 2005, became chief executive in 2007.

I'm still clueless on what to say next. The very idea of keeping someone in charge who has fucked up so dramatically is like reelecting a president who got us into a war and within a couple years spent any and all surplus....oh wait...on second thought let's keep that example for another time. I'm a firm believer of learning from mistakes; this doesn't seem like it's a learning experience though, this is just downright ignorance. Alas, one can only repeat and mull this over to his or herself so many times before he or she loses any and all bowel control.

full news article at :
http://news.yahoo.com/s/ap/20090127/ap_on_bi_ge/meltdown_executives

Obama: Prophet of Perpetuity?

Call me a cynic, but I don't have faith in Obama at all, at least not until he proves me wrong. Already he has appointed primarily a lot of "Clintonites" and seems to be on the ball with big business. Change we need? So far doesn't seem like it. But only time will tell, as of this day (and in 4.5 hours as of this writing) he's going to be sworn in as figurehead #44. Now, I understand things can only get better...hopefully...everything is still up in the air. We'll see in 100 days if anything has been changed. Of course, here's my definition of change: universal health care, federal aid for an ailing working class, the abolition of the WTO and IMF, and an increase in jobs. It's a pretty tall order but hey, a guy can dream.