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Tony Rubolotta
Chris Dodd & The Last Check
September
25, 2008
I’m sure most of us have to been to
one or more of those impromptu after work parties usually sparked by
some significant event that affects our business. The event may be
getting a new client, reaching a production milestone, a significant
promotion of a co-worker or something catastrophic that no one will
escape. During the course of the evening, a number of people will leave
after dipping into their wallets and throwing a few bucks on the table
proclaiming “I think that covers me.” Those who remain to the end of the
evening usually find that the amount of cash on the table is
significantly less than the amount required to settle the check.
Chris Dodd (D-CT) wants to throw just such a party with a bit of a
twist. The people who didn’t attend the party are going to get stuck
with the check. What Dodd will scrape off the table are the devalued
assets the party-goers threw down as they left, saying “I think that
covers me.” If you think Dodd is an economic moron that doesn’t know
what he is doing to the future of this country, think again. He knows
exactly what he is doing and could care less how transparent his motives
may be. Every defaulted mortgage, car loan, student loan and credit card
debt represents a potential voter for the party that is willing to steal
on their behalf. That is the transparent part of Dodd’s plan, but there
is a more insidious part that won’t become apparent until the long
deferred check for this party comes due.
If the Dodd bailout plan is enacted, the Federal government will become
the largest owner of single and multi-family homes in the United States.
Throw in defaulted car loans and the Federal government becomes the
largest used car dealer in the United States. You may be thinking the
government will never actually take possession of those assets, but if
the government holds the “paper”, they do have a title to those assets.
Try selling your home or car without clear title. Dodd’s plan however,
is quite a bit more ingenious than simply obligating people to vote for
the party of greed and corruption.
There is money to be made in Dodd’s scheme for everyone that wants to
play. Obviously, lenders are being relieved of the bad debts government
forced them to assume, as well as bad debts they brought on themselves.
Some homes will be sold, or rented. That’s good news for the real estate
business. Some automobiles will be repossessed, serviced and sold. Some
of the proposed government “restructuring” of businesses as a condition
for bailout will include placing political-hacks in key positions.
The increased business activity that will result from a government
bailout is an artificially generated bubble to service and dispose
seized assets. There is no wealth-building involved, but merely
redistribution of existing wealth from the productive people to the
irresponsible people. That wealth will be squandered because the
irresponsible among us are not going to change and will continue to put
people like Dodd in positions of power. Eventually, the leftist elite at
the helm of government will own all private property, obtained by
seizure in so-called bailout plans.
If you oppose government bailout plans, you are called a “mean-spirited,
selfish, uncaring conservative.” The spin is that you don’t want people
to own their own homes, own their own cars or attend college. The people
that buy that spin are those who think the government should give them
those things, and unfortunately, it is a growing segment of our people.
These people have checked their morality at Chris Dodd’s door in
exchange for the promise of free government goodies. Dodd is a thief and
the people that put him there are accessories to his crime. That’s
Biblical, and no amount of hocus-pocus government double-talk will
change that.
For any skeptics that believe I talk the talk but don’t walk the walk,
consider this:
1. I drive a 13 year old car because it still runs well, looks well and
my ego doesn’t require any more than that. My wife drives a six year old
car for the same reason.
2. I don’t own a home as much as I would love to have my own home. I
have been saving for years now but soaring housing prices have kept me
out of the market. I think those prices have been driven by imprudent
and risky loan practices flooding the market with too many dollars in
pursuit of too few homes. That bubble is bursting.
3. I had a government backed loan for college and I paid it off in full
within one year of graduation. That meant doing without some other
things I wanted, but I accepted payment of my debt as a responsibility
regardless of any government guarantee for payment. I also worked
part-time during school and full-time summers to keep my loan as small
as possible.
Does it make me
mean-spirited, selfish and uncaring that I expect other people to behave
responsibly, pay their debts or postpone their gratification? Am I
asking them to do something I have not done myself? Let’s spin it the
way it should be spun. There are people, almost always on the left, who
are irresponsible, selfish, greedy and larcenous. They elect Democrat
Socialist or like-minded RINO’s to indulge them. When the “big check”
comes due, none of them will be around to pick it up, and those who are
left won’t be able to make the payment. |
