Bitterbarn’s Weblog

aka “The Bull” (some content not suitable for children or religous zealots)

No Country for Old Men

I awoke this morning to the sound of Henry Paulson (The Secretary of the Treasury) doing some damage control on all the morning news shows.

For those who don’t know.

Over the weekend the 5 largest commercial bank in our country’s stock plummeted Bear Sterns had dropped 54%. This is usually the time when the CEO’s take a parachute and jump out a window with a suitcase full of money; and they did.

Our federal government helped out Bear Sterns as I understand it by helping to find a buyer for the company JP-Morgan and insuring all the assets into the multiBillion dollar realm. Is this a Bail out? Seems like one to me but maybe this is no time to squabble over morality.

This post is about Gerontocracy old-men.jpg

These are the guys that are gonna see us through this thing,, Henry (hank) Paulson 61, Geroge W. Bush 61 and Ben Barnake 58. I am trying to keep a level head about this whole “sky is falling” thing. We know that it only makes things worse when people get nervous about their money and go bury it under the shed. BUT, In my experience with the aged and with all due respect I am nervous about the judgment these men have. I am only 32 and I can’t remember what I did yesterday. If you know any “old people” I say over 55 then you also know that these folks have trouble getting up in the morning. and, we are at the mercy of these fellas? I wasn’t so nervous about it until I saw Hank Paulson speaking about it this morning. Just watch a minute of this and tell me this guy is gonna lead us through this. Does he have turrets or does he just stutter some or is he REALLY nervous. Why is it always a panel of old guys? This guy probaby has a million staffers that do the work; they probably just call him off the golf course to stand in front of the camera.

So the federal reserve guys (I think) dropped the interest rate on Sunday in a panic and their gonna do it again today their saying. I’ll we can do I think is do our part. Which means spend like you normally would. This isn’t the only panel of old men I know of. By and large it just doesn’t seem to work out.

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March 18, 2008 - Posted by | Uncategorized | , , , ,

9 Comments »

  1. Who you calling old? When you start talking about 61 years olds, you are playing in my ballpark, Mr.
    Just curious about what you think of the leadership of the Church. . .
    I’m not defending him, but some people just aren’t good public speakers.

    Comment by Kathleen | March 18, 2008 | Reply

  2. Who you calling old? When you start talking about 61 years olds, you are playing in my ballpark, Mr. As for 55 year olds getting up in the morning, I’m up at 5:15 AM to run 3 miles, 3 days a week. (I know you meant no offense, I’m teasing you and wanted you to maybe raise the “old” age to maybe, 70, or so.)
    Just curious about what you think of the leadership of the Church. . .
    I’m not defending him, but some people just aren’t good public speakers.

    Comment by Kathleen | March 18, 2008 | Reply

  3. Aaaauuuuggghhh!!! Why can’t the gov’t just stay the *#&$^@(@*&$*#*#($ out of the economy. Let Darwin’s law prevail. It will work itself out. Everytime we’ve been in a “recession” and the gov’t’s gotten involved it’s only made it worse. And I would just like a little credit for being the good guy in this nation. The one that is just average. Has a house (that we pay for), and pays taxes all while Uncle Sam kicks us in the pants. I’m moving to Texas so I can vote to suceed! (sp?)

    Comment by Andrea | March 19, 2008 | Reply

  4. The men at the top ARE making very poor decisions for our country. We should not be bailing anyone out of anything, not mortgages, not failed banks, nothing! People need to be responsible and suffer the consequences of their stupid decisions. Our debt is piling up because the government has to basically make new money to pay for all this. It is bad business. Who will bail you out when YOUR business (the small business)fails???? We need someone with some business sense to change the direction we are going even if he or she is 55+ years old,or 32. I’m nervous, but I’m not scared yet. But it doesn’t really matter because I don’t have a voice either way.

    Comment by Kathleen | March 19, 2008 | Reply

  5. I was expecting a “who you calling old” comment actually.
    They made more paper money. when they do that it makes the money in your pocket worth less.

    Comment by bitterbarn | March 19, 2008 | Reply

  6. The non-elected officials in charge of actually making decisions (not controlling by any means) about our economy don’t believe in capitalism, nor do they believe in free market forces. That should be terrifying. They only care about cronyism, and public perception.

    Comment by BugHunter | March 19, 2008 | Reply

  7. Matt, you don’t HAVE to comment on all of my posts if you don’t want to, or it stresses you out. I won’t feel unloved.

    Comment by Andrea | March 20, 2008 | Reply

  8. Sweetness. I just did my taxes, and for no good reason I’m getting 1800 bucks from the gub’ment. Economic stimulus package. “Get your money for nothin and your chicks for free” That aint workin’, thats the way you do it. Well, I’m a fan of our current government.

    Comment by Dallon D | March 22, 2008 | Reply

  9. Matt,
    As much as I want to get involved in politics, it’s probably better for all of us that I limit my comment to the question you asked me. I assume you meant Teline, my sister. I stumbled upon a sort of facebook/myspace acccount back before she moved to Chicago 6 months back but when I just tried to find it again for you, I couldn’t… so at this point I do not have anything on her. If you would like her info, I could probably get it. Carry on with the government talk!

    Comment by Ashley | March 24, 2008 | Reply


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