Wednesday, March 04, 2009

Higher Economics

Here's more from Obama himself (emphasis mine),
Sweden, on the other hand, had a problem like this. They took over the banks, nationalized them, got rid of the bad assets, resold the banks and, a couple years later, they were going again.

All this talk about "getting rid of bad assets."

News flash; if it's "bad" it isn't an "asset."

The things they are talking about are things that the banks paid good money for that are now worth squat. You get rid of them by throwing them in the trash. Who needs help doing that? Why do you need to buy out a bank to enable it to throw away its trash? I have a bucket of trash bad asset in my kitchen; why isn't the government buying my house so I can throw the damned thing out? My wife thinks I can throw it out without any help. Damn fool; she won't let me wait for Obama to buy our house.

Apparently my wife doesn't understand economics.

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