Dateline New York: Sunday, September 14, 2008: Financial Burdens Continue

When you wake up on Monday morning and turn on the news, the big story will be how two American Financial institutions that have been household names will cease to exist. The top story on Drudge tonight.....Lehman Brothers will file bankruptcy protection and Merrill Lynch will be bought by Bank of America for $44 Billion!

How did this happen you may ask? And the answer is very simple...mismanagement and greed! These companies deserve to fall flat on their faces. Just last week the Federal Government acquired Fannie Mac and Freddie Mae, or rather we did. The mismanagement of these quasi-government owned banks, and the ineptness of their CEOs caused their problems, and now the American people are on the hook, for what some say in the long run will be $1.2 Trillion dollars. Now a few years ago, a couple of other companies did exactly the same thing that Fannie and Freddie did and their CEOs are in prison. Enron and Worldcom ring a bell? The CEOs of Fannie and Freddie and Lehman and Merrill should be held accountable just as past CEOs have been held accountable.

Meanwhile the house of cards that is the American Economy, has more and more pressure placed on it. Sooner or later the Big Bad Federal government won't be able to save it and neither will our friends at Bank of America.

Reread your history folks, go back and look at the 1920s, we are their again. The warning signs were there then and they are here now. My advice? Pray and start stocking up on medicine, food, and clothing.

And if the economy doesn't collapse, you can call me the mayor of Crazytown. And believe me, I'd be quite alright with that........