Found by Thomas Scrace.

Give the Public $600 Billion By John C. Dvorak

The administration talks a big game about economic stimulus packages and claims that the public is the winner when taxes are low or they are simply given a handout to spend. So take $600-plus billion and give each man, woman and child $2000 each. That will distribute all this money. A family of 5 would have a nice $10,000 nest egg for a down-payment or to rent a house and pay off their credit cards thus sending the money back into the system.

The trickle-down bail-out is designed to go to the same people who gave themselves huge salaries and ran these firms into the ground? It gets them off the hook. They can then slither out of town when they all should be tarred-and-feathered.

Why not let the public buy up the mortgages at these low-ball prices and move in? Why can’t that be arranged? Use the FHA to do it if the banks cannot. Why do the crooks get to re-buy the bad mortgages at the low price? So they can gouge later?

There has never been economic stimulus from the top down when the money is given to these weasels. These are people who will sell dollars and buy Euros, or horde the money or move to Switzerland to spend the money there. All of the CEO’s of these failed companies have offshore villas. The average Joe spends his money in the USA, not Europe. It stays in circulation. Good things happen.

According to the pro-bail-out “experts” the economy should have melted down on Tuesday hurling us into a depression. Instead the market went up. So how does that work?

Start looking at this bail-out and you start to see that it is an exit strategy for Paulsen and his friends at Goldman, Sachs. There was a need to rush it through before anyone discovered what it was all about.

No oversight, a finance Czar, more free reign than ever.

Exactly why is there such a rush? It’s like the sleazeball salesman telling feeble-minded customers that they MUST buy now. It just makes no sense.

Related link:
Paulsen’s ethics problem

The current mess would never have occurred in the absence of ill-conceived federal policies. The federal government chartered Fannie Mae in 1938 and Freddie Mac in 1970; these two mortgage lending institutions are at the center of the crisis. The government implicitly promised these institutions that it would make good on their debts, so Fannie and Freddie took on huge amounts of excessive risk.

Worse, beginning in 1977 and even more in the 1990s and the early part of this century, Congress pushed mortgage lenders and Fannie/Freddie to expand subprime lending. The industry was happy to oblige, given the implicit promise of federal backing, and subprime lending soared.

Shazam! Innovation vanished!

The U.S. is throwing its future down the drain. That was one of the startling statements from Craig Barrett, Intel chairman, in an interview with Business Week magazine.

During this week’s interview, Barrett vented his anger and frustration over Washington’s inability to solve America’s long-term problems, and was notably concerned that the government had failed to pass a bill that would offer its corporations and academic institutions $1.2 billion for R&D projects.
He complained about the administration’s continuing focus on short-termism, noting the “focus is on today’s problems and forget about tomorrow’s problems. You can’t save your way out of a recession. Expect to see continued research and development investment streams. If you stop the investment streams you are cutting your throat.”

Larry Ellison’s Brilliant Anti-Cloud Computing Rant

Earlier this week, we wrote that the term “cloud computing” now seems to apply to just about anything even loosely associated with the Internet, making it effectively meaningless. But our rant is nothing compared to what Oracle’s chief executive unleashed Thursday at his company’s analyst day.

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Here’s a slightly-edited excerpt:

“The interesting thing about cloud computing is that we’ve redefined cloud computing to include everything that we already do. I can’t think of anything that isn’t cloud computing with all of these announcements. The computer industry is the only industry that is more fashion-driven than women’s fashion. Maybe I’m an idiot, but I have no idea what anyone is talking about. What is it? It’s complete gibberish. It’s insane. When is this idiocy going to stop?

“We’ll make cloud computing announcements. I’m not going to fight this thing. But I don’t understand what we would do differently in the light of cloud computing other than change the wording of some of our ads. That’s my view.”