An Utterly Daft Bailout

The UK government has decided to increase its bailout from the original 500 billion pounds by offering a new sort of insurance on future defaults

Under the program, financial institutions can pay the government for insurance against future defaults, but there is what seems to me an utterly devastating catch…

THEY HAVE TO INCREASE LENDING

I really don’t get it. It is too much lending that made these firms financially unsound in the first place. 

“This is not help for the banks but help for businesses and families,” Mr. Brown said in a press conference.

I can sympathize with the desire to ease the credit crunch for families, but you are hurting them more when you are using their tax dollars to fund a program that is inefficient at actually helping financial institutions recover from this economic meltdown.

Advertisements

Tom Friedman: Don’t Write Plays

Thomas Friedman had an very basic column in the New York Times today. It basically outlined what’s going on between Israel and Gaza and offered very little original insight, but I certainly can’t fault anything he said. 

However, I just HAVE to take issue with this opening paragraph, which actually sets up the structure for the column:

 The fighting, death and destruction in Gaza is painful to watch. But it’s all too familiar. It’s the latest version of the longest-running play in the modern Middle East, which, if I were to give it a title, would be called: “Who owns this hotel? Can the Jews have a room? And shouldn’t we blow up the bar and replace it with a mosque?”

Really, Tom? Who owns this hotel? Can the Jews have a room? And shouldn’t we blow up the bar and replace it with a mosque? is a terrible name for a play, which makes this opening really, really, really lame. I expect just a little bit better writing from someone who is so widely published and reputed.

Someone had some serious writer’s block. Or maybe Mr. Friedman needs to stick to metaphors about our globalized world and stay out of playwriting.