As I said, I am in love with this woman’s mind. Her writing is impeccable. Her mastery of the English language undeniable and her Insight is excellent. The first two paragraphs of her column today, Friday March 20 are very insightful. However, I must admit I don’t know what “market makers” are.
Let me sum those paragraphs up:
‘While the politicians on both sides of the Atlantic have vowed to clamp down on “greedy” speculators and go after those engaged in “unbridled risk-taking” . . . the “disappearance of risk capital” is a key reason so much of the financial machinery is failing to work.’
Think about that.
Because we are fixated on pursing anyone or any organization which takes risks and appears greedy, we have chased all the players out the market because there is nothing to gain and much to lose.
In ball playing terms: Because the politicians keep changing the rules of the game, the investors who take the risks have taken their ball and gone home. Who can blame them?
Tett’s Insight column is an another indicator that the governments on both sides of the Atlantic need to get out of the way and let the markets function as they should—those who lose should be allowed to fail; however, those who succeed should be allowed to reap the rewards of their efforts and their risk taking.
While Obama and his minions keep changing the rules of the game, the Obama Administration is having one effect:
It is keeping everything unstable.
And, IMO, this appears “purposeful.”
In other words,
The Obama Administration is creating instability on purpose,
With a reason.
And it is not a good reason.
One piece of evidence that this instability is intentional is the fact that the US Congress, Senate and President knew about AIG’s contractual obligations to pay bonuses. How do I come to that conclusion you ask? Simple. Senator Dodd added wording that exempted “contractually obligated bonuses” into the Bail Out Legislation.
These political folks keep playing both sides against the middle, against us. And it’s got to stop. Otherwise, they are going to destroy everything. If they can tax those bonuses out of existence, they can tax any of us off the map. In fact, let me step out and say that this is exactly what God wants.
Wake up, America!
You, we are the target.