The current climate of the government going after everything and everybody represented by a three piece business suit and matching martini lunch reminds me of Japanese horror films where the monster emerges from murky depths and destroys everything in its path!
The monster in this case is a two headed one - one a Geitner head, the other a Bernanke. If this wasn't so serious it would be funny - just like the old Godzilla movies.
Here we have two men who were a part of the AIG bonus problem from the get go. Here we have two men who have been floundering for months, in way over their heads. Finally they tell us they have a solution. They had to tell us something before the demand for their heads really gets serious.
Buoyed by having come up with something, no one is yet sure exactly what, they've found themselves emboldened. Now they want the power to take over any financial institution they deem in need! They've got to be kidding! We don't even know if the "solution" they've come up with under duress is going to work. How the heck are they going to save others from themselves when they didn't even recognize the perils before them as they sat in on AIG strategy sessions!
The only positive I see in any of this is that they are asking for the power rather than seizing it like the Bushies did in the name of "security". Give them time, however, if Congress doesn't give them the authority they seek, they, too, may just seize it.
As I've said before and often, when the government gains too much power over the private sector, the private sector and we, the people, will lose. Yes, the private sector and we along with them are suffering mightily for mismanagement and greed. Who, however, in government has the slightest idea of how to manage such a business? Chris Dodd? Barney Frank?
Oh, stop. I can't stop laughing. Seriously though, who's next? Hmmm. How about the struggling airline industry? Do we want the government running them? Will they be able to take over, say a GE, because they have a financial branch? How many other large corporations do? Ford. Once they get their foot in the door watch out. They will spin it as a mandate from the people. Populism at its worst.
When those old monster movies were popular I loved watching them. I never dreamed I'd be living in the middle of one. The trouble with living it I'm finding, is those posing as the good guys either aren't or are the most inept hero's ever brought to light!