Tuesday, November 25, 2008

That sucking sound

If George W. Bush were a traitor or a spy you'd have to admire his competence, especially in light of the current financial consequences of republican rule.

Citigroup seems destined to become the latest recipient of treasury secretay Henry Paulson's public-purse pick-pocketing, while Nancy Pelosi and Harry Reid attend dutifully.

What we are seeing, in essence, is the robber baron class taking America's electoral hopes (which require public funds) and sending them down the cash-to-crony crapper.

Paul Krugman said this about the Citigroup "plan":

"a lousy deal for the taxpayers, no accountability for management, and just to make things perfect, quite possibly inadequate, so that Citi will be back for more."


Is there a credible reason why Congress can't shut off the money press until Obama and his team are in charge?

Why is the American taxpayer bailing out United Arab Emirates Sovereign Wealth Fund and the Government Investment Corp. of Singapore (who own large stakes in Citibank)?

Shouldn't Nancy Pelosi, who allegedly has some type of Congressional "purse-string" authority, seek to attach strings to purse disbursements?

I think that to fail as much as George W. Bush unintentionally requires an implausible measure of bad fortune, but perhaps I fail to pay proper respect to ignorance.

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Foot Quotes

"Ignorance more frequently begets confidence than does knowledge"

Charles Darwin