bailout

Finding a dumpster for toxic assets just got easier when the tempest of financial distraction are keeping people focused on the shiny economic items of fear.  Remember that much of the uproar regarding the $700 billion TARP bailout plan was how the government was going to price toxic assets?  Which subsequently led to the demise […]

I know what you are thinking, “thank goodness for that $810 billion bailout!”  $10 trillion is the new million comrades.  As we blasted through the $10 trillion mark with our national debt, we have also managed to destroy $11 trillion in “wealth” in one year by simply looking at two measures, the residential U.S. real […]

I’m sure many of you watched the second Presidential debate moderated by Tom Brokaw.  For any of you following the election, we have heard the positions of both candidates in many shapes and forms.  But Senator McCain came out with a left field idea that is the sum of all fears in regards to propping […]

What does getting punched at the gym, being forced to modify a large number of loans, and screwing over the American people have in common?  It is all just another day at a comfortable and secure mahogany desk job for Wall Street and our politicians.
While a large number of Americans fret over a full blown […]

Congratulations!  We are now the future proud owners of $700 $810 billion in the most toxic, putrid, rancid, and horrific mortgages that humankind has ever encountered.  On Friday as the Congress went through their Broadway-like charade of actually debating and acting like they care about middle America, the bill which was just rejected on Monday […]

You may recall that in the distant past (Monday) the House of Representatives voted in a decent margin to say no to the housing bailout bill.  So after a 777 point market smack down, economic fear mongering, and polling politicians found out that Americans don’t like the sound of the word “bailout.”  So from now […]

Instead of the House of Representatives sending in a nice sealed envelope a candy gram to Hank Paulson of $700 billion, they instead decided to listen to the people and did a reverse bailout wiping out $1.2 trillion in stock market wealth.  Go figure.  The House of Representatives actually listened to the massive uprising against […]

As I stopped by my local grocery store to shop I happened to notice that for a weekend, the number of people was extraordinarily low.  Recognizing the cashier I observed, “it really seems empty for a weekend.”  Her comment sums up the new feeling that many have.  “It feels like we are entering another like […]

As I eagerly await the bread and circus theatre to resume tomorrow, has anyone seen any details on the $700 billion plan?  The plan ushered over the weekend by Henry Paulson was an absolute joke and mockery to our economic system.  He back peddled and stated that he wanted to keep it as “simple” as […]

“I’m shocked, shocked to find that gambling is going on in here!” -Captain Renault, Casablanca
Many of our elected officials were “shocked” and astounded to realize that the entire economy has turned into a glorified casino.  Ironically, the quote above comes from Casablanca which translated into English means Whitehouse.  How appropriate given the circumstances.  How the […]