Thursday, March 05, 2009

Federal Government...the Ultimate Money Pit

Is there no end in site to this bailout lunacy? Every entity the federal government has stated it is too big and important to fail, continues to hemorrhage.

-- Citibank is worthless -- you can buy a share of stock for less than one of their ATM fees.
-- GM's stock price is $1.80 -- there's not a single car part you could buy at a GM dealership that cost less.
-- FDIC is looking at insolvency this year.
-- AIG is on its fourth round of federal funding, with no end in sight.
-- Fannie Mae and Freddie Mac continue to loose billions and are asking for billions more.
-- Bank of American is still standing but it on the ropes and getting pummeled.

There is absolutely no confidence in this Obama administration and this Congress. Why would anyone invest in the stock market? There is no bottom in sight as it continues to hemorrhage. 7000 was surpassed last week; 5000 is around the corner.

The great lie of Obama is manifesting itself in the realization that there is no hope in him or his ideology. Lawyer turned community activist, turned politician, turned president, under the tutelage of America-hating Rev. Jeremiah Wright and communist-worshiping Bill Ayers. The script could not have been any better...more ridiculous.

The insanity will continue as Obama and his cronies operate over their pay grade. This financial mess was not his to begin with but he has perfected it. In six short weeks he has made it 10x worse, with no end in sight.

Government is not the answer B.O., it is the problem.