The proposed $700 billion bailout of America’s financial institutions will probably cost much more, because after all, that is just an estimate and, if you’ve ever remodeled your kitchen, you know how accurate estimates are.
So, to keep the country from going down the tubes the Treasury Secretary will be given absolute power to do whatever it takes to shore up the banks, the investment firms and the Treasury Department. Where will this money come from? Us. That’s right the taxpayers. But I think that Henry Paulson should look beyond the taxpayers and look to the kids of taxpayers – because that’s where all the money is – at least in my house.
My youngest son, Lewis is flush with cash. No kidding. Even in these times of economic crisis, his financial security seems…well, secure. He has a tube sock in his underwear drawer that’s stuffed with bills. It’s cash from the Tooth Fairy, birthday money from his aunt and uncle and change from the times that I’ve given him five dollars to pay for a three dollar hot lunch.
Now, I’m not suggesting that the Feds ask kids to donate the proceeds from their summer lemonade stands to bail out Wall Street. But I am thinking that maybe my meager savings- which is being battered by the stock market and is at risk from the savings and loan crisis, might be better off in a tube sock in my underwear drawer.