A Couple Observations About Financial Politics
First off, the $85 million (ed: billion) AIG bailout scares me, not because of future bailouts that it most definitely encourages, but instead because it still seems like it’s not enough to cover the sheer volume of credit default swaps that it has outstanding. I don’t get the feeling that $85 million billion is enough to cover the trillions of dollars outstanding in the whole international ponzi scheme that AIG has foolishly insured.
The second thing is that the whole “Change” message being put out by the McCain GOP campaign reminds me of the unintentionally funny Match.com “6 Months Free” campaign that’s all over TV commercials right now. The gist of the promotion is that if you use Match.com for 6 months and totally strike out… they’ll give you another 6 months for free. Hey, if you pay for our service and it doesn’t work for you for half a year, waste another half a year of your precious time, on us! It reminds me of the GOP message of “Change” on the economy. If the last 8 years haven’t worked for you, we’ll be happy to serve you with the same administration for the next 8 years!
