I finally got my checks from Washington Mutual just as the news is about how it might fail during the current financial services crisus. The government has decided, that is the congress, to bail out its own mortgage underwriters and well as the largest finacial insurer in the country, AIG, the latter to the tune of $85 Billion. We, the American People, are assuming the risk for Capitalist firms deemed too big to let fail, when it is clear that the managers of these companies and the Conservatives and members of the Republican Party have been telling us for years about less government interference in the economy is good. Now, when the risks they took with risky loans comes home to roost they run to Uncle Sam, Us, for protection.
It is so wonderful that all this Republican hypocracy comes out during an election year. And for it to signify the repudiation of Reganomics which its critics said would unleash the business cycle. It could lead to a Depression and as in 1932, the next Presidentt would discover that the government does have the power to reset the nation's priorities when market economics runs and hides.
It loooks like John McCain and Sarah Palin, whomever she is, will be laughed out of town. Lets hope so.
I was finally forced to buy a new CD player that can read MP3s and data CDRs. I bought a Sony Walkman from Fry's and was pleasently surprized by its features. Two years has actually resulted in technical advances. For one the batteries last much longer, about three times as long, and the device must have a flash stick because it can remember where you were reading between power cycles and changing of batteries. The device may actually be a stick MP3 player with a CD reader attached, rather than a CD player with a small amount of volitile memory and ROM.