I have been reading quite a bit about the money that the administration is trying to steal from American citizens.
My god, these people have some nerve.
Maybe I am unsophisticated, but what the hell are we getting for this money? Paulson and friends want to spend our money buying shit for better than market prices in order to spoof the economy into thinking that all is well. In other words, what they want is for the game to hold together long enough to get out of office and have the whole mess fall apart on someone else's shift.
There is a huge amount of bad stuff out there. 700 billion can't bring it all in, What they want to do is make sure that their banking buddies at the club have as much of the crap as possible taken off the books of the banks at the taxpayers expense. Because remember, Paulson and Bernake are first and foremost bankers. They worked for banks before, they work for banks now, they will work for banks after they leave office. They will make sure that their own bread is buttered quite well, thank you.
I am hoping that congress flushes this idea. But remember first and foremost that this is an election year, and our elected official's collective IQ goes down into the single digits this time of the electoral cycle. Don't get your hopes up.
CK Michaelson over at Some Assembly Required said it best
"Buy bonds. Grab up financial stocks. Either things will soon recover smartly and you'll be set for life, or they won't and the loss of a few bucks will be dwarfed by all your other problems."