Posted by
OldRelayer on Friday, February 20, 2009 9:47:41 AM
Sidney Poitier an actor that has made movies I enjoyed and a book that was mildy interesting(I didn't buy it). Made the most outrageous statement this week. He is calling on fearless leader to limit all companies, not just bail out companies, to pay no more than $500,000. I suspect a move that would please Obama if he could pull it off. How stupid, this administration is looking more and more like FDR's failed administration, he too thought that business was the enemy. These people add tremendous wealth to the economy by buying expensive boats, planes, vacations and other things that grow the economy, where does this idiot actor think that money will go, to people that he thinks deserve it? It will be money lost to the economy and will even further impact jobs in a negative way. A side benefit is that they are smart business people(not the failures that need bail out) and are likely to be engaged with some of that money in a start up company and create jobs and wealth. When I talked about this to Barbara she said he has making equally idiotic statement for years. I guess that is why he is Oprah's idol. I wonder what Oprah will think of all of this when her fortune is given away. Although I guess she is one of the beautiful people and have it safely stored in Swiss banks and a couple of villas in various countries of which she can pick the best one when her man tumbles the country into Bankruptcy, she won't have to stay here like the rest of us.
I am not for any big bail out of mortgages. Obama's plan is simply stupid. But I was shocked when an economist from The Heritage Foundation said he liked one part of it and that it had some 20% effectivity. He liked the part of refinancing if the house was not worth what you owe. Is this still America??? This is one of the most obsurd things I have ever heard right up there with saving mice in San Francisco to the tune of 30 million. How would they ever know what a house would be worth when you decide to sell 10 or 15 years from now, you take a credit now and the profit later, like every other investment like stocks you only loose when its down if you sell. Foster was the guy from The Heritage Foundation, did catch his last name, even THF has idiots. This in addition to it is just a bad bad idea.
I don't know how we can stop the madness. I hope when this bill gets to Congress that Coleman is installed from Minnesota and our resident Rino's regain their senses.