Saturday, January 10, 2009

Who's Bailing Out Who?

I never did agree with the thought of the U.S. Governement bailing out private companies. That's not the American Dream I was brought up to believe in (wow, I sound like my dad). I was taught that if you worked hard, managed money properly and took excellent care of your customers that you had a good chance to succeed. But success was never gauranteed. If, however, you failed in any one of these areas your business was gauranteed to fail. If a company ever fails to serve their customers properly, well, the customers SHOULD stop doing business with that company. I was also taught that if you did all the right things running a business and things went sideways anyway, you had to create a new way to succeed or find another line of business to be in. That's much the same way I feel about Big Banking. The government has approved Billions in bail out money to Big Banking. Will they bail out You or me when things don't go well? I don't think so. And what's Big Banking doing with the Billions they've been given? It's a mystery. Now they say they don't have to disclose what they're doing with it. I know what they're NOT doing with it. I know they're NOT lending to businesses that need it. Which begs the question, where's it going? If you're as fed up as I am. Please leave a comment. If you're tired of working hard and paying taxes only to see it go to Big Banking who squanders it and overpays their executives, leave a comment. If you'd like to shed some light on this for me and others, leave a comment. Sorry for the rant, come Monday I'll return to your regularly scheduled programing. Then you'll see the facts of the 4th quarter real estate market in San Jose and I'll show you where the "hot spots" are. Bye for now, I'm going to go watch some football and try to not think of this mess for a couple of hours. -Gary