I’m a big fan of Gilbert & Sullivan. In their immortal operetta, The Gondoliers, the ingeneue’s father, the Duke of Plaza-Toro (Count Matadoro, Baron Picadoro), realizes that being a member of the nobility is at odds with his current, destitute state of affairs. His novel solution was to apply for by the public under the Limited Liability Company Act. In American terms, that means he “went public,” offering shares in his Dukedom on the stock exchange. If Gilbert & Sullivan were alive today, I’m sure they’d write The Gondoliers II – The Baratarian Pirates Strike Back, where they’d script the Duke in debt once again, applying to the government for a bailout.
First it was the mortgage companies.
Then the insurance companies.
Next it was the automobile companies.
Now the credit card companies step up for a handout.
Will somebody please tell me where this governmental largess (with OUR friggin’ money!) will end? [Read more…] about Where will it all end?