Shame on you
Fool me twice
Shame on me.
Ben and Henry (Benry???) as I blog are pleading their case to the Senate Banking Committee. It’s almost like a repeat of the justification for the Iraq War – If we don’t do something about weapons of mass destruction (WMD) the US is toast. This time the WMD’s are derivatives as Warren Buffet so accurately predicted back in 2003.
This is a complete sham, they should be focusing on the homeowner – cut them a check and hope they don’t default. Instead, their theory is to help the banks and people holding these toxic instruments and make them whole and in turn that will trickle down to the homeowners. Awesome theory, I believe the theory about the Iraq war was that it would pay for itself once we start pumping the oil…we all know how that is going. Iraq is costing taxpayers close to USD 10-12 billion a month with no end in sight. They want USD 700 billion for this bailout, I’m sure that figure will easily exceed USD 2 Trillion if they get this passed in Congress.
I’m not sure what will be more valuable – Monopoly money or the US dollar?