rogersails

Fixing the Enron Economy

As a Californian, I've been seething at the parallels between our "electricity crisis" driven by Enron and their Ilk, and the current "Banking Crisis". With their foot on out throats, the "energy companies" demanded huge sums of money or else. Yes, the or else happened 38 times. The irony is these companies were so bizarrely corrupt that they imploded even AFTER raping California to the tune of billions.
Now the financial industry is demanding trillions in money and guarantees (which will turn into real money our kids will pay)... or else. Screw em. We can right size our financial industry down to half its current size. I lived without power for a while. I can go to a different ATM. My city has 13 banks per square mile - and most of us don't even do our banking at physical banks anymore !!!! Big banking has been a growing burden on our economy as surely as big government. If we don't right size it now, we never will.

The Dysfunctional Credit Market

I've got some money to help the banks with their issues, but I'd rather stuff 100's under my mattress than give it to dysfunctional bank for a lousy 2% return. Offer me 5% and I'll think about it.