Showing posts with label Citigroup. Show all posts
Showing posts with label Citigroup. Show all posts

Tuesday, November 25, 2008

A Sonnet for Paulson

I thought I'd branch out from haiku and attempt a more challenging format: the sonnet. Of course, it will not be the best example of a sonnet. For that you have to go read Shakespeare. But I did follow the required abab, cdcd, efef, gg rhyming theme and the 14 line requirement.

I was watching Rachel Maddow and she pointed out that the amount of money the Fed has already committed to the bailouts of the various financial giants in this crisis is greater than the money spent on the Marshall Plan, the Louisiana Purchase, the race to the Moon, the Savings & Loan Crisis, the Korean War, the entire New Deal, the invasion of Iraq, the Vietnam War, and NASA's entire budget to date - COMBINED. Oh, and yes - that is in inflation-adjusted dollars.

In the meantime, the CEOs of Detroit's carmakers came to Congress asking for a mere pittance in comparison to the rest of this. Admittedly, the car companies have been shortsighted in their planning and were caught in a bind when the gas prices suddenly skyrocketed. But they are not alone when it comes to blame. The government aided and abetted their dependence on trucks and SUVs through their favorable regulatory policies; and consumers bought them. So why don't the Detroit automakers, who employ so many hardworking Americans, who actually MAKE things (unlike the financial wizards who got into such a big mess) get a bailout from Washington?

I'll address this with my sonnet:

When in a panic Citigroup came calling
The Feds ponied up and gave them some cash
When the stock market kept on a-falling
Paulson decreed, "We must do something rash!"
But when it’s the car companies
Who are in dire straits,
Paulson's not in the mood to please;
Instead of doling out the dough, he waits...and waits.
Surely even he doesn’t believe
That the car companies are full of shirkers.
Could it be that it’s his pet peeve
That Detroit cars are built by union workers?
To white collar workers he gives much esteem
While blue collar workers lose the American Dream.