A meandering blog with no clear topic. You will find me talking about knitting, building, kids, social and economic issues, Alaska, and lots of other stuff.

Monday, June 1, 2009


Well, GM fell today, sortof. I hate to say this, but it needed to. I personally think this huge bailout of banks, investment and insurance companies, automakers, etc. is ridiculous, and should never have happened. To put the icing on the cake, GM declares bankruptcy today, and gets another $30 billion in bailout money. What a way to reward failure! And then it turns around and grabs it's retiree's pension plans. Is that legal? I don't think so.....

Two really good blog posts on the subject:
On a Tightrope Without a Net by Sharon Astyk, and
June 1 2009 2: The Rule of Law Revisited by Ilargi at the Automatic Earth

The second blog post includes Ilargi's comments, as well as the text and links to, many financial news articles. I encourage you to read these excellent posts. When you read this, you may find that those "green shoots" are a little less healthy than the mainstream media depicts.

1 comment:

Anonymous said...

the bail out programs are a joke
if u want something that works take a page from history
the last time this happend the government started a group fo civil engineers that built roads, dams, and city buildings getting people back to work