Paulson’s A Con Man
The original intent of the bailout/rescue package, as stated by Paulson, Pelosi, Bush, Reid, et al. was to create a market in which a tradable price could be found for the toxic paper on the books of the international robber barons. This, we were told, would avert the imminent end of the financial world as we know it.
Nevermind. Big bait and switch. We have a 2 guilty party system.
This pot of our money is now being used to pay the bills of bad and incompetent actors from all industries. Haven’t checked yet with Guinness (the record book, not the dark brew) but this has got to be the biggest and sleaziest embezzlement in the history of mankind and money.
I understand the ramifications of the jobs that would be lost. I understand the symbolism of GM going down for the count. This sleight of hand would go down a lot easier if the men and women still working the assembly lines were the ones managing the bailout, instead of DC’s version of Ocean’s 11.
I think I’m going to eat a lot and not exercise in order to become too big to fail.
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It is nice to know that if we screw up big time but have enough people that need us we can make the poop role downhill