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Massachusetts Liberal

Observations on politics, the media and life in Massachusetts and beyond from the left side of the road.

Tuesday, February 24, 2009

Uncertain confidence intervals

We're being told the stock market continues its plunge because investors have no confidence in government plans to bail out the baking industry.

But let's stop for a moment and think about who these investors are. Oh, that's right, they are the folks who were confident as AIG went down the rat hole. Or happy as the folks at Citigroup as they spent millions in bailout dollars on newspaper advertising and baseball stadium naming rights.

And now they don't have confidence that taxpayers will bailout them out -- yet again?

I lost confidence in those self-important types when I realized I was going to need to out my retirement off for about 10 years.

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