I find it amusing how straightforward even its major supporters are about calling the nationalization of global financial risk a ‘bail out’, with its implication that criminals are getting out of jail. It’s pretty fitting considering how much they’ve screwed up our country/world.

What is especially destructive about the shenanigans in Washington is that they are rewarding the fuckups and punishing prudence, quite splendidly and candidly. I really wish that those who were still working hard to keep up and managing to stay above water would get a bone here and there.

Since we’re already nationalizing risk and converting ourselves into a command economy, maybe we could do a few small things to encourage still-employed taxpayers to keep going to those jobs and funding the bailouts for the fuckup businessmen? Here’s a few things I’d propose:

• Cut a point off the interest rates of all mortgages that have been consistently paid on time.
• Bump up 6-month+ CD rates by a point to reward savers who are keeping the banks solvent with their miniscule savings.
• Give one cent tax credit for every dollar of cash worth an individual with zero debt and zero equity investment has (especially good for older savers from our more prudent Depression-era past).

This entry was posted on Wednesday, November 12th, 2008 at 1:15 pm and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.