Wednesday, February 18, 2009

Ignorance is not Bliss

I am always struck by what I don't know. I try to make amends by reading as much as I can. I know some areas are particularly weak, e.g., science and history. I am trying to make a dent in field of history, but admit that my ignorance in science is too great an obstacle to overcome at my age.

But, what really frustrates me is when I find out something new in an area in which I thought that I was relatively well informed.

I have been reading everything that I can put my eyes on re: the proverbial bailout(s). I have discussions about what I read with anyone and everyone who would participate. And yet, this morning I find out that I was totally ignorant re: an important aspect of the bailout of banks.

With all this discussion re: the lack of lending in spite of the bailout funds, I had no idea that the funds were distributed to the bank's holding companies rather than the banks. And the bank holding companies wanted to protect their shareholders by giving as little money as possible to the banks, per chance they would become bankrupt. In short, while the banks have been criticized for their lack of lending, it appears that they were not at fault. You can't lend what you don't have!

My ignorance over this matter makes me angry. I wonder if my ignorance was designed by the playmakers, i.e., never tell the public per chance they will become really angry!

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