Grandma Almost Got Rich Last Week.
Imagine if AIG and Fannie and Freddie had failed. Imagine if Lehman and and countless banks go under. Imagine all those jobs lost. All that money no longer earned. All those shares of stock without value and all that money gone out of circulation. With all those dollars gone imagine how much more Grandma's dollars would be worth. The ones she gets every month from the US Gov't in the form of a Social Security check. The ones she saved away every year from 1958 until 2003. With all those other dollars gone, hers would have been worth a whole lot more. And she is a kindly heart. She would have paid Hank Paulson to rake her leaves if he needed some extra money. As long as he does an honest job, of course.
She was comfortable to save in Social Security. She negotiated a pension for today instead of a higher salary then. Her father chose the promise of Social Security because he saw people old and hungry and in the street in 1932. They were more interested in not starving than building wealth.
Republicans sense of personal responsibility has saved her from the trials of relative wealth. Can't wait to see how them saving us from financial meltdown works out. And quick, hurry, there is no time to waste. Action must be taken today. There is enough anthrax in this vial to destroy New Yok City. You must act today! Because this sale ends tomorrow, and we will not be offering prices this low again.
Capitol Switchboard: 202-224-3121
Oh and one other thing. Anyone with 10 employees can figure out what those tranches of loans are worth. Get the zip codes. Get the purchase prices. Subtract 20% and plug the zip code and price you get here. Pretend you were born in 1925 and have reached the age where you are likely to die today (83) and see what the banks will give you for your house if they can expect to sell the house in less than one year. I imagine you'll be very close to what the bank thinks your home is worth, because that is what they would tell Grandma her home is worth.