Quote:
Originally Posted by JonInMiddleGA
{shrug}
The more I see the more I lean toward believing that the actual impact of not bailing out this incompetence is being overstated by a staggering exponent. Next thing I expect them to tell us is that if the gazillion dollars isn't approved five minutes ago then we'll see cats & dogs living together.
And to cut right down to it, it's starting to smell more & more like a set of rich politicians (on both sides of the aisle) looking to save the bacon of some incredibly rich cronies who fucked up royally.
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I'm wondering if this theoretical $250B bailout isn't just a pile of crap, too. It's not like Paulson and Bernake haven't known about this for a few months. So, they probably have been coming up with this plan for a while. They shot for the moon with "$700B and blank check" and I bet "$250B and minor congressional checks and balances" looks just fine as a fallback point.
It's something to the effect of
"I want a billion dollars for this piece of lint"
"It must be worth something, how about a million"
"Great! (heh, I just sold a piece of lint for a million dollars)"
"Great! (heh, I just bought something for a billion dollars for a million)"
Again, after reading about the way Sweden dealt with an almost identical situation tells me we should something very similar.
Also, as an aside for the economics debate, McCain's going to have to go stronger on something more than earmarks. Next to $700B, $16B is such a minuscule amount, we're starting to get desensitized to numbers that "small".
SI