Damn Jafo, it sounded SO good.  And even 425 is probably better than we'll come out with the bailout the way it is now.

It would now appear that as well as the stock purchase part of the bank bailout, the loan part is also out of control and without ooversite!!!!

http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=worldwide

Seems like we're going to have a lot of people with a lot of money and no one will be around to take care of them.  I wonder how that will work for them.

And now the first of the credit card companies has joined the fun!

http://online.wsj.com/article/SB122635928776415457.html?mod=rss_whats_news_us

Is there no end?  Does anyone realize the bill we are preparing for our children?  I can't imagine that the airlines can not be far behind.  Sure seems like massive self destruction to me.

It does seem that this is a very slippery slope we are on and the bottom is not in sight at the moment.

All this brought on by a unnatural desire to spend money we didn't have to buy things that we didn't need that more than likey broke before we finished paying for them.  All along we were being told we have a strong economy.  Imagine that. 

I don't believe I learned this in my Accounting and Business courses that I took.  Doesn't sound like a good practice to me. 

And now AIG wants more, Fannie Mae wants more and the auto industry wants bailed out.  What happened to the days when if you mismanaged your busines you went belly up?  If I mismanaged my funds I'm just screwed right!  I know I'm not very well educated but I know bullshit when I smell it.

A FOIA has been filed by Bloomberg

regarding the Bailout money. Now it also seems the money (section 382) ($145 Billion) is immune from oversight and Treasury doesn't have to tell us where it went! This is just incredible!

Hey if the annointed one wants wealth to be from bottom up and wants to spread wealth around. I suggest the give everyone who paid personal income taxes a 50 thousand dollar rebate if they made less than 250 grand a year. Individuals that did not pay taxes in 2008 would be disqualified except for retirees on Social Security who may or may not have paid into the tax system. This would infuse the economy with lots of money. Bills would be paid. Payments on mortages would be made vehicles would be bought, some would invest and save money.

This is far better than bailing out big business and it helps the middle class

I told you Doc that I couldn't make this stuff up.  For all those who wish to lay this solely at Bush's door, please note the comment by good old Barney Frank in the Bloomberg article about not to worry(which is what he said about Fannie and Fredie) and if the Treasury had to take a little hit here and there that's OK.  As if it were their money somehow!  ALL of these folks are out of control.

Exactly so!

Didn't ever mean that you would think I was doubting you, Ken. I, when astounded and dumbfounded ask 'are you sure?' or alike expressions.

This is simply beyond any comprehension! Isn't there a way to sic someone with Investigative clout on them...?

Dammit! I demand to know where my money is going!

One point in this non-equation...if they were ever to do this, pay it out to those who have paid taxes for the last 5 years. I am thinking that the share would go up per person considerably, since there are many citizens, legal and illegal, who haven't paid.( I put the illegals in, because many have been give SSN and are given health and welfare benefits, which they should never have been qualified for) So, what, that cuts out roughly 1/3 of the 18+ population who won't get paid? Just a thought.

And now this from Fannie

http://online.wsj.com/article/SB122641622440217445.html?mod=rss_whats_news_us

which includes the following:

"The streamlined effort will target certain loans that are 90 days or more past due, these people said. The program will aim to bring the ratio of mortgage payments for these homeowners to 38% of their income by modifying interest rates and in some cases forgiving portions of principal debt, these people said."

Which says to me that those folks that took 2 jobs and scraped by to pay their mortgage on time are just f*****d!

This does not become fair in my eyes on the basis that it will help protect the value of the other homes in the neighborhood.  They are doing this only for certain regions of the country (sunbelt).

I only hope it works on my little part of the sunbelt Ken.  I'm just too old and sick to live under a bridge.  Besides you can hardly find a good refrigerator box anymore.

Unbelievably now this!!!!!!

http://www.foxnews.com/story/0,2933,450024,00.html

Just incredible!

Ken, whatever you do, don't click this link.

http://abcnews.go.com/Blotter/WallStreet/story?id=6223972

Ok, what does it say?

 Of course I clicked it immediately and thanks Craig for adding more insanity to my day.  I think everyone is running around in some kind of post election euphoria in Washington as the store gets cleaned out completely.

Bingo

It's business as usual. I guess they never heard of conferencing over the net. Oh yeah..no spas on the net.  But I'm surprised no one has stepped in and stopped this. I can hear that giant sucking sound again as everything is going down the toilet.

I see the Tidy Bowl Man waving goodbye permanently. Oh, wait, that is a signal for.."Help!!!! Someone throw me a line!"