Tuesday, January 27, 2009

3 years ago Citibank signed a contract to purchase a new Jet. The new jet would have replaced two existing ones, saving money and shrinking the company's carbon footprint. As the jet was built, Citibank made good faith payments. Then came the bailout, otherwise known as the socialization of the American banking industry. Now, even though it would benefit the company, the stockholders, and the environment, the jet can't be purchased because it looks bad. Obama's message to Citibank "fix it." That means make this PR nightmare go away, no matter the damage to the things we pretend to care about (environment and people, in that order). This is par for the course. Here's the truly frightening part. Carl Levin: "to permit Citigroup to purchase a plush plane -- foreign-built no less -- while domestic auto companies are being required to sell off their jets is a ridiculous double standard." It's scary for two words, permit and required. The government is now directly managing schools, the auto industry, the banking industry, the insurance industry, and as this bailout goes forward, state government, and eventually health care. Make no mistake, if this trend is not reversed, America as we experience it now, will cease to exist. The government is buying its way into monopoly power. We may have already reached the tipping point. True, complete nationalization is the natural outcome of what we are witnessing. So, lets spend 2 trillion, buy everything, and destroy over 2 million more jobs. Viva la revolution. I only hope that when it's over, there is enough of America left to pick up the pieces.

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