Wednesday, October 7, 2009
It's been a while since we had a Sidewalker rant so I think we are due. I went down to the basement storage unit at Castle Sidewalker (that's one level above the dungeon, for those of you keeping track at home) and I've fished out the Sidewalker Flashlight of Clarity that I'm about to shine brightly on the latest outrage!
I'm going to present two cases to you, and the question is; which of the two industries needs to feel the full force and weight of Government regulation immediately?
Case 1: Banking Industry
An industry where they lent money to under-qualified homebuyers earning big fees and big bonuses. They then sliced and diced that debt through securitization and sold the pile of poop to each other, earning even more big fees and even more big bonuses. Then when the whole charade blew up they looted the U.S. Treasury of every last cent of taxpayer money to the point where the smallest unit they talk about is Billions, in order to cover their incompetence.
Case 2: Blogging Industry
Joe Sixpack wrote on his blog that he took a diet pill and lost 10lbs in two weeks, overstating his weight loss by 8lbs. He promotes this diet pill and implores you to buy it for $19.99 including shipping and handling. Is it a sugar pill? Probably. Should you believe him and buy it? Probably not.
So which one needs instant attention? Just for the record our Government went with Case 2 this week, as they announced the FTC will be regulating blogs. If you are still trying to figure out how the Government works let me leave you with this little hint.
Bloggers have ZERO lobby dollars...
-Current balance $23.42