777 Isn’t that when all the bells and whistles go off and you win the jackpot?!? It would be if we were all down at Foxwoods or Mohegan Sun. Three sevens! Yup! That’s what a person can spend all night plugging in quarter after quarter into the one armed bandit in the hopes of finding one fabulous jackpot… looking for those three lucky numbers!
Well, we got the lucky numbers today. Right there on Wall Street. 7-7-7 !!! No bailout! No do-overs, no write it off, no “we have to do this or the world will come to an end”, no one to believe in, no one with any real credibility, no wonder.
I don’t know how it happened or why, but somehow a whole bunch of people took off their rose colored glasses and just said “NO!”
I’m not some financial whiz kid, but I could have told you the wheels were coming off. Did anybody believe for a slick minute that loaning people money that they were not capable of paying back would end up with a good ending? Did anybody who got one of those ‘loans’ knowing they couldn’t pay it back think that it would have a good ending?
No. What it came down to is everybody got ‘theirs’ without ever asking about the cost they weren’t paying. A long time ago, I was told “There’s no such thing as a free lunch.” Well all sorts of people, a lot of them supposedly knowledgeable, were willing to bank on the house of cards staying up just long enough for them to get theirs.
Well, the waitress just put the check on the table. I’m not looking forward to hitching up the belt and feeling the pain, but its high time to get to it. I hope we can all work through this and come out on the other side with a better appreciation for paying what something is worth, for the privilege of everyone following the rules and paying their way. Let’s do the right thing.