holy f---!

[ginny_t]

The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago. (bloomberg via here)

Holy crap. The US is already in debt up to its eyeballs, the current administration is on its way out (aside from the unprecedented number of temporary appointments that Bush is making permanent--f---er), they've already dumped a metric crapload of money into a structurally questionable sector, and they're saying sh-- like this? These are people who have (supposedly) overseen the country for 8 years--lookit the good they've done at it--and are going to be on the unemployment line (ha!) in just under two months.

Y'know, when I left the Big Red Bank, I gave three months notice (I meant to give two, but that's another story). Once I let it be known that I wasn't staying, I started telling people "look, this is what I'll do, but after I'm gone, you're gonna have to talk to the new person". But NO! These arrogant sh--s are gonna make big public statements to show--I don't know, maybe how caring they are, how concerned, that they're not going to let it all go the rest of the way to hell in a handbasket. Nope! No crappy handbaskets for this trip--we're all going to have comfy quarters for this ride. (Y'know, where "we" and "all" mean the bigwigs. The trickle down effect will take care of the peons.)

This fills me with rage and terror, and it's not even "my" money. The Canadian dollar is already in near-freefall because of future loss of exports to the US. This is affecting us, and it will do so even more as the situation down there gets worse. This will affect the entire world. If you can't be responsible, then shut the f--- up and ride out the rest of your less than two months. Assholes.

Wow, I didn't realise I'd be so mad about this. I'm being all political these days. It's raising my blood pressure. Time for a kittens and alpaca intervention.

Comments

[gruberman.livejournal.com]

Weeeeeell, I don't know if I'd say the Canadian dollar was in free-fall. I remember reading, back when we were at parity, a few people saying it was over-valued and that $0.80 was the more accurate price.

Ours is more sensitive to commodities and as oil and lumber prices tumble, so will the dollar.

That being said, the 7.4 trillion boggles the mind 0.o

[ginny-t.livejournal.com]

I will concede that I'm unreasonable about the Canadian dollar. When people bitch about the consequences of it being high, I have to grit my teeth to keep from snarking.

That said, the dollar's value changed drastically when the US economy tanked. The timing can't be denied.

You know what's worse?

[serpentrose.livejournal.com]

If the people steering the economy had any real sense of economic history they wouldn't have allowed a borrowed money economy in the first place!

[kawaiiayu.livejournal.com]

just be glad you dont live here

or in my sake, in detroit because everythings crashing down underneath us because the big 3 are coming down hard.

[ginny-t.livejournal.com]

*hugs* Hang in there, hon!

[shivanesti.livejournal.com]

Read the actual Bloomberg article (http://www.bloomberg.com/apps/news?pid=20601109&sid=arEE1iClqDrk) and I don't even know what to say. Canada's financial market rides closely with the U.S. market which rides closely with the European market which rides closely with the Japanese market... Lack of transparency with these financial deals is what caused this problem in the 1st place, so it's definitely time to make this entire process transparent.