[lbo-talk] Treasury's proposed (and nameless) bailout law

Bill O'Connor billyoc at gmail.com
Sun Sep 21 13:50:56 PDT 2008


Doug Henwood <dhenwood at panix.com> writes:


> [Make Hank and his successor virtually almighty, with no outside
> review.]
>
> <http://blogs.wsj.com/economics/2008/09/20/treasurys-financial-bailout-proposal-to-congress/

A breathtakingly elegant scam, both in simplicity and scope.

Give us the $700b or it's economic Armageddon and everybody dies.

We're giving the $700b to Hank because he's the T-Man.

Hank gives the $700b to Republican cronies to administer the worthless instruments, and he doesn't even need to save his receipts, because there is no mechanism for oversight of his disbursement of the monies.

I don't mind having mortal enemies, really, but do they have to be so damn clever? :(



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