Yes, the Freeholder is on an extended break for Christmas. Well, sort of a break. I have firewood to deal with, a metal carport/awning-thingee that will be the new “woodshed” to be installed, drywall to hang, walls to repair, electrical work to accomplish, writing to finish and, dare we say it, blogging to be done.
The firewood is started, but while I take a brief break from firewood, let’s blog.
It seems that, since the last time I checked the ol’ Intertubz new services, many interesting things have happened. For right now, let’s deal with a couple of things of a financial nature.
It seems that the former chairman of NASDAQ, Bernard Madoff was arrested and charged Thursday with allegedly running a $50 billion Ponzi scheme–he apparently was ratted out by his kids. Two thoughts on this one–First, you have to wonder about the dynamic between Madoff and his kids. Two, when I first read the headline, my immediate thought was “Gee, someone has finally figured out the true nature of the stock market.”
The last I had heard from the auto bailout was that the Senate had reached some sort of deal that would allow them to vote in favor of the blasted thing. I’ll admit to not pursuing the story, since I expected something of the sort would happen eventually. Then in this morning’s news, I find that the Senate has voted it down. Of course, the UAW predictably doesn’t comprehend their major role in this, and blames the e-e-e-vil Republicans for this turn of events.
The UAW needs to eat shit and ide. For decades, they’ve made upper-middle class wages and benefits for doing what is realistically a $15 an hour job. Guess what, boys, as a symbiotic parasite, you’ve finally managed to kill the host organism. Have a nice life while the corpse cools.
Of course, the Treasury vows that they will do whatever it takes to keep the automakers on life support until Congress returns. Expect to see some intense negotiations, a lot of nasty arm wrestling and PR campaigns from every quarter. Also expect to see the deal done, somehow, some way.
I have to wonder if I held my breath and stomped my feet long enough, would the Treasury come bail me out? Hey, I just want my house paid for and a couple of new cars. Heck, I’d even let them give me a couple of GM’s excess output. This could be a win-win situation.
Perhaps that’s how to bailout the automakers, get older polluting cars off the road, address those bad vehicle loans, save oil and all that good stuff–the government buys all of the automakers’ inventory that has built up in parking lots all over the nation, and then gives us all new cars in exchange for our old ones. Works for me–at least I getting kissed before I get screwed.
Or we could just let them take the bankruptcy option. Come to think of it, I like that one better.