Yep, it came and went and we’re still here, chewing our fingernails as the Bushit flies in Congress, with Paulson (read his record and say “I trust him.”) and Bernanke testifying before a buzzing swarm of up-for-election politicians blowing hard populist stuff about “ain’t gonna bail out Wall Street if… blah blah… Mainstreet.. blah blah” whether Republican or Democrat as the smell of the blowing wind is like a feedlot coming out of the canyons of lower Manhattan. Right or Left, they’re all “mad as hell” and will foam at the mouth a few days to provide cover for some less astounding hand-out to the rich.
In 2007, Wall Street’s five biggest firms — Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley — paid a record $39 billion in bonuses to themselves.
That’s $10 billion more than the $29 billion loan taxpayers are making to J.P. Morgan to save Bear Stearns.
Those 2007 bonuses were paid even though the shareholders in those firms last year collectively lost about $74 billion in stock declines — their worst year since 2002.
Not to mention the billions on billions handed out in no-bid “wartime” contracts to, well, mostly the same “good fellows.”
Meantime Mrs Palin is getting her cram course in foreign policy from the master war criminal himself, a 3 hour private session with Henry Bloodyhands Kissinger. Did she go down on him? If she follows the actions of the stockmarket (up down up down….) I am sure the old boy will approve.
Speaking of the Mystical Market Economy Dow(sing) rod, as predicted following its erectile direction on Friday’s news of a 700 billion bail-out for the richest, it went limp again when this instant gratification was subjected to delays from both Right and Left, and in the interim news of sleazy kinds leaked out about Mr Paulson, the wizard primary author of this proposal, who like all con-men said “gotta do it now, one-time-only offer, gone tomorrow, sign now, read the fine print later, time’s runnin’ out” as he shuffles the shells faster and faster and his patter gets more desperate to sign up the mark. Mr Paulson got a mere 18 million dollar pay out (kick-back) from Goldman Sachs just recently. And which entity would be one of the biggest benefactors of Paulson’s deal? Why Goldman Sachs, natch.
These people make the Mafia look like two-bit hoodlums squabbling over a ho. Perhaps the one pictured above…
Yep, keep tunin’ in tomorrow for the latest in the big time soap of the century.