So, after finally having digested ALL of the Thanksgiving turkey, we turn once again to a much less edible bird. Earlier this week, we found out that Henry Paulson–you know, former CEO of Vampire-Squid–while he was Secretary of the Treasury–wandered into a meeting with hedge fund managers and told them what Treasury was going to do about Fannie Mae and Freddie Mac. SAY WHAT? Umm, Hank, that was supposed to be a secret until it happened! Did it not occur to you that someone might possibly engage in some insider trading on the basis of WHAT YOU #$%^&* JUST TOLD THEM? Oh, but these are my buddies–they’d never do anything so illegal, unethical and immoral. Well, most of them anyway.
There we have it, the essence of what ^&*(#$%^& went wrong with our system. We used to think that the Grant and Harding administrations were the poster children for corruption. Well, Bush II certainly gave them a run for their money (so to speak) and the Obama administration is coming up fast along the far turn. Here, pack of foxes, please take care of the hen house–we know that ace chicken stealers are going to be the best as keeping predators away! Other predators, that is!
With that shocking bit of news, did it really come as any surprise when we found out the REAL scale of the bailout? That the Fed SECRETLY loaned banks 7.7 TRILLION DOLLARS at interest rates even lower than they pay their mom and pop customers on bank deposits? And that these banks loaned it back to the government to make a profit on it? Not to worry, they only realized 0.17% profit on it. Right–only 13 BILLION dollars.
And while we found all this out, the cops of various cities have been coordinating attacks on those dirty hippies, rapists, thieves and murderers, as Fox and Friends would have it, at the same time as the Egyptian military has been attacking “pro-democracy demonstrators” in Cairo. You’ve seen the pictures…can you tell the difference? YES–tanks! You’re welcome! Read the rest of this entry →