Most Unhappy Bailout

The President American, noble lord Barack Obama, hast vowed in sudden vigor to stop forthwith the faltering insurance giant American International Group from further issuance the residue of its fortune in bonuses to executives and chieftains. He thus hath given countenance to his speech as the administration did scramble thither to avert marry a populist backlash as haply shall become against the banks and Wall Street that could contend against lord Obama in economic recovery agenda.

On his choice depends the safety and health of this whole state. `Tis till now some nine moons wasted that taxpayers werest importuned to rescue A.I.G. from collapse. It bringeth the bailout commitment for that one company all to some $160 billion. Is `t come to this? In verity it doth portend that by enabling A.I.G. to avert bankruptcy proceedings, the unhappy taxpayer ist also hap to baileth out — for whom whereof exactly?

Not to know here is most retrograde to our desire. That we find out the cause of this effect at this our state to be disjoint and out of frame, in great measure no one do purpose for governance to be of free disposition yea to let A.I.G. collapse into disorderly bankruptcy. It hast grown too mightily interconnected. In the foretime of yond housing bubble, it had all the wealth that were left to be known a reasonable creature. In sooth, it used unregulated derivatives to insure mortgage securities drawing on apace on such a sudden to be high toxic, costly the habit as a purse can buy — but altogether lacking th` abilities to wit reserves wherewith to pay assurance. And it must follow, as the night the day it was upon this fashion it fell into abatement and low price. And this be so it there withal went under, as haply shall become it drew on apace yea a chain of defaults catastrophic amongst the banks where holdeth the securities and entwined investments.

And there begins my sadness. The misgraffed bailouts of A.I.G. sharked up a list of lawless resolute that were hard to compass. Who endeth with the money such as it is? Will it serve for any model to build mischief on? Major financial institutions seemeth not the innocent of A.I.G.’s demise as harbingers preceding still the fates. What great ones do the less will prattle of. By my troth, they be sophisticated investors, so great the force they knoweth the seemly risk there ta`en — and who profited mightily afore it all came crashing down. In a merry sport, they hath turn`d a heaven unto a hell. Whoe`er the recipients are, e`en so to take delight in such a barren rascal, for all the vows that ever men have broke the villainous contrivers shouldst be made to pay for all the bailouts. They must themselves confine within the modest limits of order. If not a present remedy, at least a patient sufferance.

Fortune reigns in gifts of the world, yet `tis the fashion of the world to avoid cost. Know now upon advice that more of same black-hole bailouts are wont to fail in restore of stability or confidence. It followed hard upon that stock markets worldwide withered a fortnight and odd days. Oh, there has been much throwing about of brains! A flow`ring chime of economists and commentators emploreth the Obama administration yea to adopt a meet more comprehensive: a government-run restructuring, or nationalization according to our law immediately provided in that case. The bailout proceeds must by all be spent most preciously and that in way of caution.

`Tis thought among the prudent whereof that many of American misprison in the highest degree the word “nationalization” — politician more so e`en. But they, sir, had th` election. Yea each new bailout of old losing enterprise only feedeth mistrust of governance and weaken public confidence for naught the weightier decisions seemingly to follow nigh upon in many coming hour.