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Born at the Crest of the Empire

Friday, December 05, 2008

Thinking back....

With all the bailout/giveaways and the season, I find myself remembering a favorite old pol, Paul Tsongas, with his famous line, "I'm not Santa Claus."

(PS. If you'll remember, Al Franken played the parody on SNL.)

3 Comments:

  • I think it's important to distinguish between government grants (free, no-strings give-aways), government investment (we purchase shares/assets with an expectation of an ROI), government loans (where the government issues a loan with repayment terms, including interest), and government guaranteed loans (where the government is merely the co-signer and spends nothing unless there's a default by the borrower.)

    Unfortunately, one would never know this from the media coverage. The corporate media is reporting ALL government involvement as if it were merely free money give-aways (ie Santa Claus).

    By Blogger -epm, at 9:40 AM  

  • Fully agreed. Very little of the money put out has not been counterbalanced with some form of possible return, equity stakes, loan repayment, or loan guarantees.

    It's not really a giveaway in the true sense. I just shorthanded it in explanation.

    By Blogger mikevotes, at 10:49 AM  

  • By Blogger yanmaneee, at 12:46 AM  

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