Wikinvest Wire

Deal on "installment plan" reached

Thursday, September 25, 2008

The Wall Street Journal reports Congressional leaders have shown amazing restraint in reaching a deal to allocate only one-quarter of a trillion dollars as the first installment on a plan to rescue the world from an impending financial system meltdown.
IMAGEThe poor and unwashed masses should feel good about their elected representatives having accomplished two important goals before appropriating any money.

  • Limits on executive compensation (i.e., fewer,smaller golden parachutes)
  • Government stock options for companies participating in the bailout
Those waiting for the government to bail out the little guy will have to wait a while longer as there are no provisions for easing bankruptcy laws to aid homeowners.

Many view this as a "trickle down" bailout, where, ordinary folks will derive benefits in indirect ways long after hundreds of billions of dollars of government money have been spent and the financial system has been saved.

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dearieme said...

The Three Stooges.

Anonymous said...

I'm sorry, wasn't St. John supposed to be in this picture?

Lisa said...

They're in a hurry to go get started on their vacations. The details are too time consuming and may delay their departure.

Anonymous said...

I don't ever want to hear the words 'fiscal conservative' or 'free market' come out of the dirty pieholes of hypocrite Republicans ever again.

Anonymous said...

Is it just my imagination, or is Barney Frank saying, "Hey, I'm tapped out - all my money was in Lehman ETNs!"

Anonymous said...

This country is going to hell in a handbag. Those politicians (except for Ron Paul - kudos to him) are unwilling to utter a word of truth about the serious private and public debt that this country is awash in. What the hell is going on with the increasing disparity in wealth in this country? The middle class is @#$%^&* disappearing!!!!

Anonymous said...

umm can I opt out of paying my taxes. I would prefer to keep my money and it is just fine with me to see the financial system falter a little or even a lot. Maybe, just maybe, that will teach us a lesson. I doubt it.

Richard Thomas said...

Most of the world doesn't know about the 65 Trillion Dollar Credit Swap Defaults still looming. It dwarfs the mortgage crises and it all has more to do with a

Fiat Currency Bubble Burst.

The info is on

Where the flaws are articulated in detail unlike anything you see on the news, such that you can understand them and so the workings are not obfuscated with complexity. A detail solution is provided to fix the foundation, which everyone else speaking about the problem seems to lack.

Many people only see the appearances they do not see the fundamental flaw in the system itself. The bailout should go directly to the homeowners or to stimulate the economy so they can pay their mortgages. “reports Congress being blackmailed, wealth extorted from citizens”

fish said...

Not so fast youngsters.....Shedlock seems to have them on the run!!

Anonymous said...

I think Mish is worried about his DEFLATION outlook not panning out.

Anonymous said...

Perhaps I will violate whatever decorum rules are in play here, but:

When she said that the Constitutional remedy of impeachment was "off the table", that fucking bitch Pelosi may as well have strolled over to the National Archives, removed the original Constitution from its display case, and torched it. In one smooth motion, she made herself an accomplice to the Bush/Cheney criminal syndicate.

Steny Hoyer, on the other hand, doesn't even merit that much reaction. Ciphers never do, eh?
-- sglover

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