The Big Bailout

How in character for the Bushies to all of a sudden get interested in the financial market mess.  They've spent months telling us everything was going to be okay, when they knew it was not, trying to get through the election without everything crashing.  Bad timing for McCain, who just last week was telling us the fundamentals of the economy were sound, and now a week later if we don't do what Bush says and do it now, the world as we know it will end.

Speaking of timing, isn't it a rather shocking coincidence that on Saturday Goldman Sachs, of which Henry Paulson was CEO as they were acquiring all the garbage in their portfolio, applies to become a bank; on Sunday the Fed approves their application, and on Monday Paulson asks for $700 Billion to bail out -- the banks!  His bank, among others, the number and names unknown as yet.   And everyone has to rush to do it without asking any questions, without anyone being able to question anything he does, and we'll pay.  Or we'll be liable -- it won't get paid in my lifetime.  This $700 Billion, of course, does not include the $1 Trillion (with a "T"!) to take over Fannie Mae and Freddie Mac, nor the earlier few hundred billion for the earlier bailout through the summer, or the Credit Facility loans the Fed has already made these banks, and which they won't tell anyone what the outstanding balance is.  

Somehow I doubt Ronald Reagan would recognize today's version of supply-side, trickle down economics.  But for $2 Trillion in bailouts of one sort or another, there should be a hell of a trickle coming your way soon!