I'd like to compare a few articles that popped up in my reader yesterday to show the absolute lunacy and hypocrisy of our federal government.
First...the federal underwriting of failed mortgage giants freddie and fannie continues...when will it end? We've already subsidized 111 billion in losses, and now that cap has been removed only to be replaced by a new formula whereby the more that is lost...the more we will subsidize them.
I say enough already. Failing companies should be allowed to fail.
Next up..despite this horrendous performance the leaders of these companies continue to pull in millions in compensation! Wasn't there supposed to be pay limits for bailed out companies?
ah yes, here they are. the pay limits for execs like those at GM...right?
Well apparently even those pay limits are flexible if you pull the right strings.
After all, what good is a pay limit if you can't bribe your way out from under it.
Each of these articles are fine examples of what is wrong with this country. We subsidize failure and punish success. Subsidize spending and punish savings.