Chump Change

September 23, 2008 | Filed Under Main, Politics |

That’s what $700 Billion must be these days. Something you just find under the sofa. Stuffed in that Lincoln-head cookie jar. 700 trillion pennies (?). That’s why it should only take Congress (that fast-acting entity in DC) seven days to agree to spend it. For a country whose currency is scrapping the floor, we certainly spend like drunken sailors. (The new Zimbabwe?) Of course, you and I never see that kind of dough for healthcare or education or anything else. But I’ve always been more concerned with the fortunes of the Lehman and Merrill CEOs. They are so unique and special….

But the best is a statement I found on a website from the White House Deputy Press Secretary, Tony Fratto (thanks, Terry):

“Fratto insisted that the plan was not slapped together and had been drawn up as a contingency over previous months and weeks by administration officials. He acknowledged lawmakers were getting only days to peruse it, but he said this should be enough. ”

????

They planned to take over all the banks? That’s so… un-American and un-Republican. Once again the rest of us are left in a position of having to trust these jackasses because well it is a crisis, isn’t it?

If this bill passes (which it will), life as we know it will change drastically. The only chumps left are the American people. I wouldn’t want to be president next year…

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6 comments so far
  1. Mike September 24, 2008 9:35 am

    Well. I don’t know if I would go as far as that. This happened once before with the S & L debacle. However, we should not be giving these idiots a blank check to buy every bad asset that these clowns have. I like the NFL souvenier vendor who said he had some old Green Bay Favre posters that are now obsolete and wanted the Gov’t to buy. There should be some mechanism for the taxpayer to get some tax relief as these assets get sold and paid off, which eventually they will at some value. The profits should not go back to the idiots that started the mess.

  2. mburma September 24, 2008 11:04 am

    Bernanke already said the taxpayer was screwed, so what’s a little more pain?

    Does everyone remember that the Dimwit-In- Chief bankrupt every company he worked for?

    The Streak is intact!

  3. Tommy September 24, 2008 2:21 pm

    The problem with this whole thing is that the government can no longer pretend not to be a company. it is not official without question going to be in the business of turning a profit, making your last comment terrifingly true. Is there a precedant for this?

  4. Tommy September 24, 2008 2:22 pm

    that should read “…now officially without question…”

  5. mburma September 24, 2008 10:49 pm

    Precedent? Well, what other types of countries have governments that run formerly private industries?

    My question is: If the government buys this “bad debt”, do you get your house back but with the Treasury holding your mortgage?

  6. Patrick September 25, 2008 3:46 pm

    “Well, what other types of countries have governments that run formerly private industries?”

    Those would be socialist ones– Russia and Venezuela come to mind.
    Yep…bad precedent.