The good news: As Michael Lewis over at Slate points out, so long as the U.S. government keeps borrowing massive sums from foreign banks (thanks, China! Here, have some saccharine Tibet-free bulls--t Olympics coverage), we probably won't feel much of BushCo's $700 billion bailout on your tax bill. But your grandkids? Oh my God. Wait, do you even have grandkids yet? No? Well then, screw 'em. Damn whippersnappers probably had it coming.
The bad news: Fed Chairman Ben Bernanke's confession that the program will put a "significant amount of taxpayers' money on the line," which is a bit like saying "removing this wing from the plane will put a significant amount of death in your face." God knows we haven't funded the absolute ineptitude of Bush sufficiently, to the tune of two trillion dollars, for a failed and lost war. Now we get to save countless gluttonous MBAs and inept investment bankers and rather hopeless home buyers who were far too easily duped by cretinous lenders into believing it was perfectly OK to take on a sub-prime loan for a quarter-million dollars when they only made 25K per year. But hey, at least now some of us can afford to buy a house. In Stockton.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment